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Further Acquisitions for Bossard

2015-03-13

Bossard Group announced that it has completed the acquisition of Aero-Space Southwest, a US high-quality fastener technology provider with operations in Mexico and Hong Kong. In December the Swiss group also extended its presence in Scandinavia by acquiring a 60% holding in Torp Fasteners, Norway. Bossard Group announced on 21st November that it had signed a contract to acquire Aero-Space Southwest, headquartered in Phoenix, Arizona. Founded in 1982 Aero-Space Southwest had 2013 revenues of US$43 million (35.8 million euros) and employs 65 people. It has sales and distribution centers in Arizona, California (2), Washington State, Mexico and Hong Kong. The company serves customers in aerospace, electronics, telecom and the medical sector. The parties agreed not to disclose the value of the transaction, which Bossard funded from its own funds and bank loans. Completion was confirmed on 6th January 2015. Bossard CEO, David Dean, said: "Aero-Space Southwest opens new doors for us. This well-run company provides us with a solid foundation on which we can expand our business, particularly in the economic relevant state of California."  Robert Budde, owner and CEO of Aero-Space Southwest, commented, "Bossard is the ideal partner for Aero-Space Southwest. We are pleased that our company goes into good hands, and our dedicated employees are assured of a successful future and strong business development in joining the Bossard Group." Robert Budde, will remain with the business for the handover and integration into the Bossard Group. On 18th December Bossard confirmed it would acquire a 60% share in Norwegian fastener distributor Torp Fasteners. 40% will remain with the previous owners and management. The acquisition has been completed in January 2015. Based in Oslo and trading independently since 1974, Torp has an annual turnover of around 8.3 million euros and employs 16 people. The acquisition price has not been disclosed. Bossard CEO David Dean said, “We are already well-established in Denmark and Sweden. Torp Fasteners will now contribute substantially to an improved market position of the Bossard Group."