Bossard Group, a Switzerland-based distributor of fastener products, announced its intention to acquire Aero Negoce International (ANI), a Béziers, France-based distributor of fastening solutions and logistics services in the aerospace industry. Terms of the transaction were not disclosed.

Bossard aims to expand its market presence in the aerospace sector, specifically bolstering its position in the Aerospace Valley in France. The company said it wants to enhance its cooperation with Bossard Aerospace Germany, acquired in 2019.

“The intended acquisition of Aero Negoce International SAS is an important step to accelerate our growth strategy in the aerospace industry and strengthens our strategic presence in the Aerospace Valley in France,” Bossard Group CEO Daniel Bossard said in a July 24 news release. “In addition, we see great market opportunities in the cooperation with Bossard Aerospace Germany, which will further strengthen our position in the European aerospace industry.”

ANI employs 33 people in France and anticipates company net sales of around EUR 25 million for the current financial year. The company has additional location in the USA and Malaysia.

Bossard Group — U.S. operations rank No.10 on MDM’s Fasteners Top Distributors List — is expected to close the acquisition within 2024. The acquisition will leverage funding from existing credit facilities.