Swiss international fastener technology and logistics company Bossard, No. 25 on Industrial Distribution's Big 50 List, announced Monday that it will acquire the fasteners division of Italy's Forind Avio Elettronica.
Forind Avio Elettronica has annual revenues of $5.9 million and employees 10 people. Terms were not disclosed for the transaction that is expected to close by February.
The addition strengthens Bossard's presence in Italy, where it already has a branch employing 20 people near Milan.
It's been a busy period of procuring for Bossard. Last week it completed the acquisition of Phoenix, Arizona-based Aero-Space Southwest, a distributor of fasteners and electrical components. This past Dec. 18, Bossard announced the acquisition of 60 percent of Norway's Torp Fasteners.
