Borstlap Group Bought by Equity Firm

Jason Sandefur

Dutch fastener distributor Borstlap Group signed an agreement to be purchased by ABN Amro Capital, the private equity unit of Dutch bank ABN Amro, Dutch News Digest reports.\ The deal, which is expected to close in mid-December 2004, gives ABN an 85% stake in Borstlap, while current management maintains 15% ownership. Terms were not disclosed.
Borstlap Group had 2003 sales of 214 million, with strong growth projected during 2004.
Borstlap Group was established in 1947 and is based in Tilburg, southern Netherlands. Borstlap, which handles the Fabory fastener brand, is an international fastener distributor with 85 offices in 15 countries. The company employs 1,500 people. �2004 FastenerNews.com