Koninklijke Nedschroef Holding B.V. (Nedschroef) agreed to acquire CP Tech GmbH, a component manufacturer and engineering service provider for automotive and motorsport industries.

Founded in 2006, CP Tech is located in Büren, Germany, and employs 175 engineers. Web: cptech-gmbh.com

In a press release announcing the deal, Nedschroef highlighted the global automotive industry’s rapid adaption to such trends as connectivity, sustainability and autonomous driving.

“This requires new vehicle concepts and incorporation of innovative product functionality at an early stage into the designing and manufacturing process. As a leading fasteners partner for future mobility, Nedschroef focuses on the growing demand for special fasteners and other complex engineering parts used in cars powered by traditional fuel and electricity.”

Nedschroef CEO Mathias Hüttenrauch said the acquisition of CP Tech would help customers “gain first mover advantages in vehicle development.”

“The combination of Nedschroef and CP Tech will enable us to broaden our expertise from fasteners to understanding the complete functionality of components, consisting of multiple integrated parts,” stated Nedschroef CEO Mathias Hüttenrauch.

Completion of the transaction is subject to the required approvals and merger clearance.

Headquartered in Helmond, Netherlands, Nedschroef is one of the world’s largest suppliers of fasteners and other engineered cold formed components for the automotive and aviation industries. With 2016 revenue of EUR 629 million (US$713 million), the company employs over 2.000 people worldwide at 25 locations. Web: nedschroef.com