The Bossard Group is expanding its market presence in Canada as a supplier of high-quality fastening solutions. It acquires the Canadian distribution business from the American company PennEngineering® in Danboro, Pennsylvania for an undisclosed purchase price.
PENN Engineered Fasteners Corporation (PEF), based in Ontario, Canada, was founded in 1970 and acquired by PennEngineering® in 2017. The company supplies industrial segments such as automotive, energy, agriculture, and appliances with innovative fastening solutions, and generates annual sales of around USD 25 million with 30 employees.
Bossard and PennEngineering® maintain a successful, long-term collaboration which covers a total of 22 countries in North America, Europe and Asia.
“With the acquisition of PEF we are in a great position to continue our profitable growth strategy in the context auf our Strategy 200. Building on our previous investments in Canada, adding PEF’s capability, we will be able to expand our services in this key market. We are excited to welcome PEF employees to the Bossard family and look forward to further developing our business together in the Canadian market,” said David Jones, CEO America, Bossard.
