Zug, Switzerland-based fasteners distributor Bossard agreed to acquired German Ferdinand Gross Group.
Terms of the transaction were not disclosed.
Leinfelden-Echterdingen, Germany-based Ferdinand Gross Group is a distributor of fastening technology. The company employs approximately 260 people and has additional operations in Hungary and Poland.
The company is projected to have net sales of approximately EUR 80 million for the current financial year.
“The planned acquisition of the Ferdinand Gross Group not only bring together two companies with a long tradition, but also two strong partners who share common values and business philosophies – in the spirit of ‘Proven Productivity,’” Bossard Group CEO Daniel Bossard said in an Oct. 15 news release.
Bossard said the acquisition of the Ferdinand Gross Group will enhance its market presence in Germany and Eastern Europe.
The acquisition is expected to close in the first quarter of 2025 and will be financed using existing credit facilities.
Bossard’s previous most recent acquisition was of Aero Negoce International SAS (France), completed on Sept. 26.
The company’s U.S.-based operations are No. 10 on MDM’s Top Distributor’s List for Fasteners and No. 45 for Industrial Supplies.
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