Bossard Acquires 60 Percent of Torp Fasteners

The Bossard Group takes another step forward in its drive to further develop European sales markets: With the integration of the Norwegian Torp Fasteners company into the Bossard Group, Bossard boosts its position as a supplier of high-quality fastening solutions in Scandinavia. The Norwegian company generated an annual turnover of about CHF 10 million and has 16 employees. Bossard will acquire a 60 percent-share, while 40 percent will remain with the previous owners and with the management. The parties have agreed to keep the acquisition price confidential.

 

Since years, the Bossard Group has made substantial investments to develop new markets. In 2013, for instance, the group opened a subsidiary in Australia; in the current year, business activities were launched in Canada. On November 21, 2014, Bossard was able to announce the signing of the contract on the acquisition of the US-American supplier, Aero-Space Southwest, Inc.; this transaction will further expand the company’s market position in the western part of the USA. The acquisition of the Norwegian company Torp Fasteners fits ideally into this overall strategy and is in line with the strategic focus for the years 2010 - 2015.

 

In this connection, the CEO of the Bossard Group, David Dean, emphasizes, “We are already well-established in Denmark and Sweden. Torp Fasteners will now contribute substantially to an improved market position of the Bossard Group in Scandinavia.” Subject to the customary closing conditions, the acquisition will be effective in January 2015.

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