Nord-Lock acquires Spanish distributor IDQ

Nord-Lock has strengthened its position in the Spanish market with the acquisition of IDQ Investigación Diseno y Calidad, S.A.U.

IDQ has a turnover of SEK 17 million (€1.6 million) and seven employees in 2017. Established in 1997, IDQ has represented Nord-Lock for a number of years.

Nord-Lock Group has signed a deal to acquire all shares in the distributor in a move that will strengthen its local presence in Spain and ensure levels of service and support that customers expect. A statement added: "Spain is a significant market for bolt securing and tensioning and the aim is to secure the continued strong growth Nord-Lock Group currently achieves."

Nord-Lock Group recently appointed Fredrik Meuller its new Chief Executive Officer.