The Bossard Group is significantly expanding its market presence in Canada as a supplier of high-quality fastening solutions. It acquires the Canadian distribution business from the American company PennEngineering® in Danboro, Pennsylvania, USA, an innovative manufacturer of fastening solutions.
PENN Engineered Fasteners Corporation (PEF), based in Concord, Ontario, Canada, was founded in 1970 and acquired by PennEngineering® in 2017. The company supplies industrial segments such as automotive, energy, agriculture, and appliances with innovative fastening solutions, and generates annual sales of around USD25 million with 30 employees.
Bossard and PennEngineering® maintain a successful, long-term collaboration which covers a total of 22 countries in North America, Europe and Asia. Bossard, with its global focus on creating value for its customers through engineering services and innovative logistic solutions, is convinced that it will be able to unlock additional growth in this strategic market located in the industrial epicenter of Canada.
“With the acquisition of PEF we are in a great position to continue our profitable growth strategy in the context of our Strategy 200. Building on our previous investments in Canada, adding PEF’s capability, we will be able to expand our services in this key market. We are excited to welcome PEF employees to the Bossard family and look forward to further developing our business together in the Canadian market,” comments David Jones, CEO America, Bossard.
Both parties have agreed not to disclose the purchase price.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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