SFS, headquartered in Heerbrugg, Switzerland, has acquired the fastener business and other products of Connective Systems & Supply, Inc.(CSS), based in Denver, Colorado, USA, effective 1 July. This gives the globally active manufacturer of precision and fastening components from the St.Gallen-Lake Constance area market access to the fast-growing region around Denver, according to a media release. The purchase price was not disclosed.
The business will be integrated into the Triangle Fastener Corporation(TFC) in Pittsburgh, Pennsylvania, which belongs to the SFS Group. TFC is active as a supplier of fastening technology and other products for end users in the construction industry at 25 trading locations in the USA.
Within the SFS Group, TFC is assigned to the Construction Division in the Fastening Systems segment. “With the acquisition, TFC strengthens its market position in this attractive market,” the media release states. The Denver area is considered a growth region in the USA. The construction industry in North America has experienced a strong upswing in recent years, as it has in Europe.
CSS was founded in 1985 and has since developed into a “major partner for fasteners and other products for end users in the construction industry in the state of Colorado”. CSS’s divested business generated $15 million in sales last year with its 20 employees.
The employees will be taken over by SFS, and the two locations in the Denver region will be retained and continued by the current management.