Jason Sandefur

The European Commission approved the joint bid of Gilde Buy-Out Management Holding B.V. and Parcom Ventures to buy Dutch auto fastener maker Royal Nedschroef Holding NV.
More than 98% of Nedschroef shares reportedly have been offered under the public takeover bid of EUR 59 (US$79.66) per share. The offered price values Nedschroef”s total share capital at EUR 265 million (US$357.8 million).
Founded in 1894, Nedschroef controls 21 companies with operations in 11 countries. More than 90% of its revenue comes from automotive fasteners. Nedschroef reportedly will continue operating as an independent company under its present name.
Nedschroef reported 2006 sales increased 12% to EUR 413.5 million (US$545.2m), which included organic growth of 10%. Net profit grew 17.8% to EUR 18.9 million (US$24.9m). Web: nedschroef.nl \ �2007 FastenerNews.com