The Bossard Group increased its majority stake in Torp Fasteners to 100% from 60%. Terms of the deal were not disclosed. Bossard has held a stake in the Oslo, Norway-based specialty fastener supplier since January 2015.

Bossard’s investment “is in line with the Group’s strategic approach to expand its presence in the areas of branded and high-quality engineered products,” the company stated.

Torp Fasteners’ product range includes complex fastening technology made of plastic, as well as rivets, special fasteners and locking devices. Torp Fasteners also supports customers in the early planning stages of product development, which Bossard called “significant.”

“This technical expertise fits perfectly with the Bossard Group’s strategic focus to increasingly leverage its recognized engineering competence for customer projects in order to optimize the use of resources, to reduce throughput times and thereby strengthening the competitiveness of its customers,” Bossard stated.

Torp Fasteners employs 21 workers and achieved sales of CHF 9 million in 2019. Web: torp-fasteners.no

During 2019, Bossard sales in Europe rose 3% to CHF 507.7 million, boosted by the acquisition of Germany-based BRUMA and the takeover of the Boysen fastener distribution business from the German AQUAERO Group. Without acquisitions, sales increased slightly by 0.5%.

Overall sales increased 0.6% to CHF 876.2 million (US$905.3 million). When adjusted for acquisitions, sales fell 3.3%.

Züg, Switzerland-based Bossard is an international industrial and automotive fasteners supplier. Web: Bossard.com