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

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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