Acquisition of Fastening Solutions Division of Italian Provider Forind Avio Elettronica S.p.a.
January 12, 2015The Bossard Group strengthens its market position in Italy: It is acquiring the fastening solutions division of the activity portfolio of the company Forind Avio Elettronica S.p.a. which yields an annual turnover of CHF 6 million and employs 10 people. The parties have agreed to keep the acquisition price confidential.
The Bossard Group has in recent years invested considerable resources in acquisitions to develop targeted individual markets or to strengthen market presence. The most recent examples of this are the acquisition of the US provider Aero-Space Southwest Inc. which was completed at the beginning of January this year. In this context, the acquisition of the Norwegian company Torp Fasteners, announced in mid-December 2014, should also be mentioned. The acquisition of the fastening solutions division from the portfolio of Forind Avio Elettronica S.p.a. should now help towards consolidating the market position of the group in Italy. Bossard is already present in Italy with a branch office in Legnano, near Milan, with more than 20 employees.
Forind Avio Elettronica S.p.a. is well established in Italy as a provider of high-quality fastening solutions of internationally recognized brands. After its inception in 1968, the company, domiciled in Cassina de' Pecchi on the eastern periphery of Milan, became recognized as a supplier to the demanding aerospace industry. It has gradually established a foothold in other sectors of the economy thanks to its proven know-how in terms of reliability, precision and efficiency of the solutions offered. Today, these include various industries, in particular the medical sector as well as the telecoms and electronics sector.
Forind Avio Elettronica S.p.a. has the technical expertise to assist the customer with complex fastening solutions from design to project execution.
The acquisition of Forind Avio Elettronica S.p.a. fastening solutions division will, subject to the usual completion conditions, be effective in February 2015.