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Simpson Strong-Tie Company Inc. Purchased the Equity of Gbo Fastening Systems AB
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2017-01-16
Simpson Manufacturing Co., Inc., through its subsidiary Simpson Strong-Tie Company Inc., purchased the equity of Gbo Fastening Systems AB for approximately $10.2 million. Gbo Fastening Systems is headquartered in Gunnebo, Sweden, with fastener production and surface treatment capabilities in Sweden and Poland. Gbo Fastening Systems has over 200 employees located in Sweden, Poland, Norway and Romania. It is expected that for the fiscal year ended December 31, 2016, Gbo Fastening Systems has had approximately $41 million in net sales.
Gbo Fastening Systems was founded in 1764 and specializes in designing and manufacturing fastening solutions for structural applications and corrosive environments. The product offering of Gbo Fastening Systems includes nails, screws, collated fasteners, mechanical and chemical anchors and connectors, that Gbo Fastening Systems sells under two main brands: Gunnebo Fastening and Christiania Spigerverk. Sales are focused primarily on the construction, OEM and DIY markets within the Nordic countries, Eastern Europe and Russia.
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