ACQUISITIONS: LISI Acquires Knipping

John Wolz

The LISI Group has completed negotiations to acquire Knipping Vergindungstechnik GmbH, a Germany-based screw manufacturer.\
LISI Link Solutions for Industry was formerly GFI Industries S.A.
The acquisition is subject to German Cartel Authority (Bundeskartellamt) approval.
Knipping manufactures sheet metal screws, washer screws, and screws for plastics, engines and gearboxes, trimmed parts and automotive components and will be integrated into LISI Automotive.
Knipping reported 2004 sales of Euro 97.7 million (U.S. $118.6 million). Knipping Group owns four industrial sites in Germany and one in Spain plus sales offices in France and the UK.
With Knipping, the LISI Automotive division will generate nearly Euro 400 million (U.S. $485 million) in annual revenue.
LISI anticipates creating a single cabin fasteners (screws plus clips) source, growth in Spain and Germany and business synergies throughout European automotive markets.
Richard Hagan, president of New York-based Pinnacle Capital Corp. described the Knipping acquisition as “further evidence that deal activity in the worldwide fastener industry has “heated up” again.”
Hagan, a financial adviser for fastener acquisitions, noted that LISI also bought an automotive fastener company Form of the Czech Republic last summer.
LISI employes 5,200 people in nine countries and reported 2004 revenue of Euro 541 million (U.S. $656.5 million). LISI is listed on the Paris Stock Exchange under the symbol FII. Web: lisi-group.com �2005 FastenerNews.com