12/1/2014 2:37:00 PM
HEADLINES
Bossard Acquires Aero-Space Southwest
David Dean
The Bossard Group signed a contract to acquire Arizona-based distributor Aero-Space Southwest to expand its presence in the U.S.
Founded in 1982 in Phoenix, Aero-Space Southwest employs 65 people with annual revenues of US$43 million in 2013. It has sales offices and distribution centers in industrial areas in Arizona, California, Washington, Mexico and Hong Kong. Aero-Space features branded products in fastening technologies and electronic components.
Bossard CEO David Dean said Aero-Space Southwest “opens new doors for us. This well-run company provides us with a solid foundation on which we can expand our business, particularly in the economic relevant state of California.”
Both parties declined to disclose the purchase price.
During recent years, the Bossard has expanded its global network and increased focus on positioning itself as a provider of high-quality special and branded products.
Bossard Group reported its U.S. businesses generated net revenues of CHF133 million (US$137.1m) in 2013.
There are no significant overlaps in the business activities of Aero-Space Southwest and the Bossard Group, Dean pointed out.
The American company, which grew as a family-owned entity, supplies aerospace, electronics, telecom and medical sector customers, and is headquartered at 21450 N. Third, Phoenix, AZ 85027. Web: aerospacesw.com
Subject to customary closing conditions, acquisition completion is due in January 2015. Bossard will acquire the company from its own funds and bank loans.
Aero-Space CEO Robert Budde rated Bossard as “the ideal partner for Aero-Space Southwest. We are pleased that our company goes into good hands, and our dedicated employees are assured of a successful future and strong business development in joining the Bossard Group.”
The press release stated Budde will stay through “the integration phase into the Bossard Group ensuring a seamless transition.”
Züg, Switzerland-based Bossard Group is an international supplier industrial fasteners and assembly technology. With over 800,000 products, technical consulting and warehouse management (logistics), “Bossard has positioned itself as an end-to-end supplier and partner in industry.”
Bossard has more than 1,800 employees in over 60 worldwide locations. The Bossard Group, listed on the SIX Swiss Stock Exchange, earned CHF 609.7 million (US$628.7m) in sales in 2013. Web: Bossard.com
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