Bufab, through its subsidiary Montrose Holdings Ltd, agreed to acquire UK-based Thunderbolts Group Ltd.

Founded in 1991, Thunderbolts had sales of GBP 2.9 million and employed 19 people to supply customers in the construction, manufacturing, marine and healthcare industries in southern England. The company was owned by Theresa Wittcomb and Langdon Lloyd. Web: thunderbolts.co.uk

“Thunderbolts is recognized as a stable and respected provider of fasteners and other C parts in the region around Southampton, and it will be an excellent complement to Montrose and to our other operations in the UK,” stated Bufab CEO Jörgen Rosengren.

Bufab expects to book acquisition related costs amounting to approximately SEK 5 million in the second quarter of 2017.

Bufab Group reported sales, operating profit and profit after tax were all records in 2016. Sales increased 16% to SEK 2.85 billion (US$322.6 million), which included organic sales growth of 4%. Operating profit rose 38% to SEK 272 million.

Founded in 1977, Sweden-based Bufab supplies industrial fasteners, with operations in 24 countries and 940 employees. Web: bufab.com