The Bossard Group Acquired The Fastening Division

The Bossard Group acquired the fastening division as KVT Koenig Group, Bossard CEO David Dean announced. KVT Fastening supplies fastening and sealing applications in German-speaking countries. The division has 230 employees in Germany, Switzerland, Austria and Central Eastern Europe. KVT handles 70, 000 products for 25, 000 customers from logistics centers in Dietikon, Switzerland; Illerrieden, DE; And Asten/Linz, Austria. Sales total CHF120 million (US$128.5m). Züg, Switzerland-based Bossard announced the acquisition allows it "to draw closer to attaining its strategic goal of pushing ahead worldwide and continuing to grow in a profitable and customer-oriented manner" and "enable customers to profit from greater competences in industrial fastening technology" and range of products and service; And the "strategic cross-linking of solid engineering expertise from both companies will create new possibilities" for customers. "The aim is to make active use of these strengths on the market with the new group of over 1, 800 employees, as well as to continue building on the market presence of both companies, " Bossard's announcement stated. The takeover price of CHF200 million is financed by a consortium loan, which will be reduced through a share capital increase of CHF 80 million in the first half of 2013. The Bossard families' Köln Holding Ltd. Is the main shareholder. Founded in 1927 as Dr. Ing. Max Koenig AG to provide light construction engineering, the company expanded into fasteners in 1950. KVT Koenig Group is owned by holding companies Capvis and HgCapital and management. Web: KVT-Koenig. Com Outside Europe, KVT has locations in Brazil, China and Connecticut/U. S. Bossard sells fasteners worldwide and provides inventory management and fastening engineering consulting. The acquisition comes weeks after Bossard sold its U. S. Subsidiary, Bossard Metrics, to Lindstrom Metric LLC for an undisclosed sum. Bossard has 1, 600 people in 50 locations. Sales in 2011 totaled CHF474 million (US$507m). Bossard is listed on the Swiss stock exchange. Source:chinafastener