NEWS

Trifast acquires Italian fastener manufacturer

Trifast plc, the parent company of TR Fastenings, has acquired Viterie Italia Centrale Srl (VIC), a leading Italian manufacturer and distributor of fastening systems, for an aggregate consideration of 27 million euros.

T

rifast plc, the parent company of TR Fastenings, said the acquisition will form a key additional part of its future expansion by providing an additional manufacturing facility in Europe to complement the group's existing

resources in Asia. Founded in 1964 by the Perini family, VIC predominantly

manufactures and distributes fastening systems for the white goods industry, numbering most of the European major brands as customers, and has recently expanded into automotive lighting fastening components. VIC reported sales of 27 million euros in 2013 generating profit before tax of 5.4 million euros. VIC recorded sales growth of 7% and 16.75% in 2011 and 2012 respectively. An essential part of Trifast’s management growth strategy is to identify and selectively acquire profitable businesses, explained Malcolm Diamond, executive chairman: "This acquisition represents an excellent strategic fit for Trifast; VIC operates as a manufacturer of highly engineered parts mainly

to the domestic appliance industry, plus early development into automotive lighting components. This capability will enable its trading arm, TR Fastenings, to offer a wider range of threaded fasteners manufactured within the enlarged group's facilities to these industry sectors, which we consider to be strategic for TR's global aspirations." "VIC has a young, experienced and motivated management

team, led by Carlo Perini. Their focus and continued improvement on customisation has allowed the business not only to keep up with output markets' technological development, but also to often act as an innovator, reinforcing its competitive positioning." Carlo Perini, who will remain with the business as managing

director of VIC, commented: “The culture and ethos of the Trifast group of companies is very similar to our own and this step offers both companies an exciting opportunity to develop, exploiting the skills and leadership qualities of both VIC and TR.”

Park-Ohio buys Apollo Aerospace Group

Park-Ohio Holdings Corporation announced that its Supply Technologies (ST) business has acquired the Apollo Aerospace Group (Apollo) headquartered in the West Midlands, UK, with additional operations in France, Poland, and India.

A T 16

pollo is a supply chain management services company providing Class C production components and supply chain solutions to aerospace customers worldwide. Edward F. Crawford, Park-Ohio chairman and CEO, noted: "Apollo is a dynamic business based in the Euro zone with significant management experience in the aerospace industry. Our supply technology business will benefit

from Apollo's strong customer and supplier relationships. Our ability to provide customised programmes for replenishment should be an attractive proposition to aerospace customers around the world." ParkOhio is a leading provider of supply management services and a manufacturer of highly engineered products. Headquartered in Cleveland, Ohio, USA, the company operates 40 manufacturing sites and 52 supply chain logistics facilities.

ITW Heller now with Serafin Group

As of 1st May 2014, German based Serafin Group acquired all ITW Heller GmbH shares from Illinois Tool Works Inc (ITW), based in Glenview, USA.

he company will continue to act as an independent company under the name Heller Tools GmbH and will continue to pursue its enterprise strategy of growth orientation and international presence. At the same time,

management and staff continuity will be given. The executive board will continue to manage the company at its base in Dinklage, Germany, with the same team. "Serafin invests in companies to develop them successfully in line with the interests of all stakeholders. In acquiring Heller, we again seek to pursue long-term collaboration with customers, suppliers and staff," explained Philipp Haindl, managing director

Fastener + Fixing Magazine • Issue 88 July 2014

of the Serafin Group. “Heller will still be Heller.” Heller is a brand name manufacturer of drill bits, and stands

for 165 years of quality, reliability and innovation. As a specialist on the construction site, Heller offers drilling solutions for concrete, brick, wood and metal, and distributes its products to more than 50 countries worldwide. "Following the successful change in shareholders, we look

forward to continue implementing our ambitious growth strategy and impressing our customers worldwide with innovative products ‘Made in Germany’ and reliable service," said Dr Frank Schubert, managing director of Heller.