Bossard Acquires 60 Percent Of Torp Fasteners

The acquisition boosts Bossard's position as a supplier of high-quality fastening solutions in Scandinavia.

ZUG, Switzerland — The Bossard Group has taken another step forward in its drive to further develop European sales markets, announcing the integration of Torp Fasteners company. In doing so, Bossard boosts its position as a supplier of high-quality fastening solutions in Scandinavia. The Norwegian company generated an annual turnover of about $10.2 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.

The acquisition of Torp Fasteners fits ideally into this overall strategy of developing new markets 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.”

Continuity in the company’s operations is ensured by leaving a 40 percent-share of the company in the hands of the previous owners and the management, thus emphasizing their continued support for the company. Subject to the customary closing conditions, the acquisition will be effective in January 2015.

For more information about Bossard, visit Bossard is No. 25 on Industrial Distribution's 2014 Big 50 List.

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