Bulten Group has announced that the acquisition of Exim & Mfr Holdings Pte Ltd has been completed. Closing of the transaction follows the announcement in July that Bulten had signed an agreement to acquire Exim for a purchase sum of approximately SG$66.3 million (€45.3 million) on a cash-free and debt-free basis.
Established in 1982 and based in Singapore, Exim distributes fasteners and other c-parts, along with related services from more than 1,800 manufacturers and suppliers for American, European, Indian and Japanese companies operating in Asia. The company has more than 1,000 customers in a range of sectors including telecom, electronics, energy, medical technology, aviation, and other industrial manufacturing. Exim has approximately 140 employees in Singapore, India, Indonesia, Malaysia, Thailand, the Philippines, and Vietnam, and annual sales of about SG$40 million.
“I am delighted that we now have completed the acquisition of Exim. It is an important milestone as we are now broadening our business within the distribution chain and thereby creating future opportunities for us to grow within new customer groups,” commented Anders Nyström, president and CEO of Bulten Group.
Felix Lian, newly appointed managing director of Exim, will be responsible for leading and developing the company further.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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