NEWS
Fontana Group purchases Acument Global Technologies Inc
The Fontana Group has acquired Acument Global Technologies Inc from Platinum Equity for an undisclosed figure.
F of the acquisition, on 19th
ontana announced it "becomes today the absolute worldwide leader in providing world-class fasteners solutions as a result June 2014 of
Acument Global Technologies Inc, the leader in providing manufacturing fastener solutions for the markets of United States, Mexico and South America, from Platinum Equity". The acquisition expands Fontana's
presence to 22 manufacturing operations located in Europe, North America, Mexico and Brazil, as well as logistics centres across the world, generating annual turnover of US$1.1 billion (803.6 million euros) and employing 4,200 people. Fontana added: "This transaction
demonstrates the commitment of Fontana Gruppo to enhance the success of its global customers by expanding its global reach, acquiring world-class brands and patents and improving its ability to offer the most competitive fastening solutions."
Fontana Luigi SpA was established in
1952 in Veduggio, Italy. Over a period of more than forty years it has pursued an acquisition strategy resulting in some twelve manufacturing companies joining the Group including: Lobo, Bulloneria Barge, Invitea, French manufacturer G.F.D, and more recently LEP Special Fastener in the United States. It has also set up a network of distribution companies across the world under the Fontana Fasteners name. Formerly Textron Fastening Systems, Acument Global Technologies has 11 manufacturing and distribution operations in the US, Mexico and South America, employing some 2,300 people. Acument Global Technologies Inc owns and licenses a series of leading fastening systems including TORX®
and TORX PLUS® drives,
as well as having a range of proprietary fastener designs including MAG-FORM® STRUX® and ACUPOINT®
The company constructed an advanced
FinnvedenBulten to concentrate on fasteners
FinnvedenBulten AB has signed an agreement with Shiloh Industries Inc, a US supplier to the automotive industry and general industries, to sell the Finnveden Metal Structures (FMS) division.
Shiloh Group as head of the European operations with continued responsibility for FMS. “Through the sale of FMS, FinnvedenBulten’s business will be entirely focused on the fast growing and international fastener
T 12
business. We see great opportunities for continued strong and sound growth. The financial position, that is considerably strengthened by today’s deal, creates better conditions to seize opportunities the coming years,” says Roger Holtback, chairman of the board of FinnvedenBulten. “Amid very tough competition, Bulten has managed to position itself as one of the three leading full service providers in Europe
and we have seen very strong development in recent years. The new business signed in 2013 with an annual value of around SEK 500 million, as well as the planned production start in Russia in 2014 and extended possibilities in China, means that we expect to see considerable organic growth in the coming years,” says Tommy Andersson. The intention is also to change the name of the group from FinnvedenBulten AB to Bulten AB at an extraordinary general meeting.
he deal was expected to close on 30th June 2014 with the SEK 372 million (approximately 40.6 million euros) purchase price
for all shares in FMS paid in cash. Tommy Andersson, current president of Bulten AB, will become president and CEO of FinnvedenBulten AB. Johan Westman, presently president and CEO of FinnvedenBulten AB, will take up a position in the executive management team of the
, amongst others.
manufacturing facility in Brazil and has expanded its manufacturing capability in Mexico. Group companies included CAMCAR, Ring Screw and MAPRI. In 2008 it reinforced its entry to the aerospace sector through the acquisition of Saturn Fasteners.
Platinum Equity acquired Textron
Fastening Systems in August 2006 for a reported US$673 million plus debts, rebranding the business as Acument Global Technologies. In 2010 Platinum Equity divested Acument's Avdel® and Global Electronics & Commercial businesses to Asia Trading Company Limited, owned indirectly by funds advised by CVC Asia Pacific Limited and Standard Chartered Private Equity Limited. This Asian headquartered business with extensive operations in Europe became Infastech, which was subsequently acquired in February 2013 by Stanley Black & Decker for US$850 million in cash.
Fastener + Fixing Magazine • Issue 88 July 2014
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132