August 13, 2014
Stockholm, Sweden, August 13, 2014: Atlas Copco U.K. Holding Ltd., Atlas Copco North America LLC and Atlas Copco Asia Pacific Pty Ltd. have signed an agreement to acquire all entities of self-pierce riveting specialist Henrob with main facilities in the U.S. and the U.K. The acquisition offers Atlas Copco an opportunity to expand in a fast-growing market segment, with state-of-the art technology.
Henrob is a pioneer and market leader in self-pierce riveting, a mechanical fastening process for joining two or more sheets of material where welding is difficult, e.g. aluminum. The company, which is privately owned, had revenues of MUSD 162 (MSEK 1 063) in a 12 months period ending June 2014 and about 400 employees. The acquisition is subject to certain governmental approvals and is expected to close in the third quarter 2014.
The self-pierce riveting segment is expanding fast due to the growing use of lightweight materials in the automotive and other industries, a trend driven by increasingly stringent emission standards. Automakers are working hard to improve fuel economy, and weight reduction using aluminum is an effective measure in meeting these requirements.
“Henrob is a strategic fit in our portfolio of adjacent fastening technologies for the automotive industry,” said Mats Rahmström, President of Industrial Technique business area. “It is a logical addition to our automotive body shop business. Now we can serve customers with three assembly technologies: tightening, adhesives and self-pierce riveting.”
Henrob is a supplier to some of the leading auto manufacturers in Europe and North America. Atlas Copco’s global footprint will open up possibilities to serve customers in more markets. Henrob will become a business line within the MVI Tools and Assembly Systems division in the Industrial Technique business area. The brand will be kept.
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