Bossard takes over Aero-Space Southwest
November 21, 2014
The Bossard Group makes a significant step forward in the United States as a high-quality fastening technology provider. With the signing of the contract to acquire Aero-Space Southwest, Bossard is expanding its presence in the United States with a high-quality product portfolio. Aero-Space Southwest employs 65 people with annual revenues of USD 43 million in 2013. It has sales offices and distribution centers in important industrial areas in Arizona, California, Washington, Mexico and Hong Kong. Both parties have agreed not to disclose the purchase price.
During the past years, the Bossard Group has invested considerable funds in the expansion of its global network. At the same time, the group has increasingly turned its focus on positioning itself as a provider of high-quality special and branded products. The acquisition of US-based Aero-Space Southwest seamlessly fits into this overall strategy: Founded in 1982 in Phoenix Arizona, Aero-Space Southwest features a high-quality portfolio of branded products in fastening technologies and in the area of electronic components. For David Dean, CEO of the Bossard Group, this acquisition is an important step in the expansion of the company’s US business in which Bossard generated net revenues of CHF 133 million in 2013: "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," says David Dean. There are no significant overlaps in the business activities of Aero-Space Southwest and the Bossard Group.
The American company, which grew as a family-owned entity, has established itself as a supplier in various fields. Aero-Space Southwest serves customers in industries such as aerospace, electronics, telecom, as well as the medical sector. In all these areas, Aero-Space Southwest has made a name for its range of fastening technology solutions and electronic components.
Subject to the satisfaction of customary closing conditions, the completion of the acquisition is due in January 2015. The Bossard Group will acquire the company from its own funds and bank loans.
From the perspective of Aero-Space Southwest, the agreement with Bossard brings the intended success. "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," explains Robert Budde, owner and CEO of Aero-Space Southwest. Robert Budde will accompany the handover as well as the integration phase into the Bossard Group ensuring a seamless transition.