Stockholm, Sweden, April 4, 2018: Atlas Copco, a leading provider of sustainable productivity solutions, has closed the acquisition of the assets of Klingel Joining Technologies. The company specializes in flow drill technology, a joining method used in the automotive industry.
Klingel Joining Technologies is based near Munich in Germany and is one of three business units of Klingel GmbH. The business had revenues of approximately MEUR 8.5 (MSEK 82) in 2017 and 23 employees are joining Atlas Copco.
Atlas Copco announced on March 6, 2018 that it had agreed to acquire the assets of Klingel Joining Technologies. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
Flow drill technology is a mechanical joining method used for aluminum and mixed material applications.
The acquired business becomes part of Atlas Copco’s Industrial Assembly Solutions division in the Industrial Technique business area.
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and services focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2017, Atlas Copco had revenues of BSEK 116 (BEUR 12) and about 47 000 employees.