NEWS

WOMEN IN FASTENERS

FREDRIK MEULLER, CEO OF NORD-LOCK, IS GUEST EDITOR OF THIS ISSUE OF TORQUE MAGAZINE

TO SAFEGUARD HUMAN LIVES AND CUSTOMER INVESTMENTS IS OUR RAISON DÉTRE

I had high expectations when I joined Nord-Lock Group and I can honestly say they have been exceeded. It is a great company with amazing employees possessing unique competence and experience to secure critical bolting solutions, and truly the global leader driving innovation in the field. To safeguard human lives and customer investments is our raison détre

Our solid owner AB Latour has fully supported us during 2020 and their long-term commitment has ensured us to invest in expanding three of our large factories – which is really positive. 2020 saw a flight to safety - when things get difficult, everyone wants to mitigate their risk exposure and having us as an reliable partner with lots of experience from different industries has been critical for many customers.

Many big end consumer project decisions were deferred so now there is quite a backlog, so I think we will see more infrastructure investments this year. And in any downturn you see opportunities in mergers and acquisitions, so I expect some owners of fastener companies that struggled during the pandemic will be reaching out this year.

I joined the company two years ago, after roles at JP Morgan, McKinsey & Company and global polymer giant Trelleborg. Nord-Lock had // Many big consumer project grown rapidly, both organically and through decisions were deferred so now bolt-on acquisitions; the Superbolt business in 2011, Boltight in 2015 and Expander in 2016. there is quite a backlog. I think There was a need to focus on structure and we will see more infrastructure efficiency, invest in systems and create an investments this year. // operational platform to ‘earn our right to grow’. We also integrated more into digital solutions as part of our efficiency strategy.

Our focus has moved on to growth and innovation. It’s important we raise the bar with new product and solutions, and work closely with end users. Developments like our LST – Load Sensing Tensioner – is a fantastic innovation and saves a lot of time and money for end users. It’s also given us a different business model - we are no longer selling a product, we are selling uptime. We are also keen to ensure that sustainability becomes a natural part of our DNA. One of our biggest growth opportunities is simply in growing awareness, making people aware that we exist and the kind of safety solutions we can provide.

Nord-Lock Group has 600 employees worldwide and in 2020 we’ve put a lot of focus in education, knowledge transfer and employee engagement. We were even awarded top 5 “Employer of the year” in Sweden by Briliant Future. As a result we came out of 2020 stronger, tighter as a team and we managed to keep the wheels spinning. 2020 has been a busy year for us and I am happy see that all our effort and learnings along the way makes it easier for our customers and partners to do business with us.

Fredrik Meuller

CEO of Nord-Lock

www.nord-lock.com

www.torque-expo.com

WILL 2021 BE AN ACQUISITION AND MERGER BONANZA?

2021 could prove particularly busy for mergers and acquisitions in the fastener and related indus‐tries, with a significant number having been made in recent weeks and months. Late 2020 and early 2021 brought a number of M&As amidst further disrup‐tion following a tumultuous year for supply chains in virtually all sectors. Downturns have typically heralded M&A opportunities for a variety of reasons, including businesses embattled by the pandemic and lockdown looking for support as well as long‐planned mergers unrelated to Covid difficulties.

Some of the recent M&As in the fastener and related industries include: February saw Würth Industry North America announce the acquisi‐tion of Atlantic Fasteners Inc, bolstering Würth’s new construction services business division. innovative products that use ultrasonic energy to create form‐fit connections.

Home improvement giant Home Depot grew its presence as an MRO provider when it agreed to acquire HD Supply Holdings, Inc., a leading North American distributor of maintenance, repair and operations (MRO) products.

According to the Harvard Business Review: “Businesses are, or should be, examining their existing lists of poten‐tial acquisition targets and should be prepared to act, as deal premiums are likely to come down and assets that companies had been reluctant to sell may become available. “But the window for maximising value could be relatively short, if history is any indication.”

Lederer GmbH has taken over all shares in NORMTEC Montage‐ und Befes‐tigungstechnik GmbH, with effect from 1 January. The Wuppertal company has been successfully selling stainless steel fasteners for seven years and will continue to exist as an independent company.

Also in January, Selco and Woodies owner Grafton Group agreed to buy building materials distributor and DIY retailer Proline Architectural Hardware (“Proline”). The €10.8 million revenue distributor of architectural ironmongery products for doors operates from a single location in Dublin.

Bossard took a 40% stake in start‐up company MultiMaterial‐Welding AG, Stansstad, Switzerland, in late 2020. The fastening technology business focuses on multi‐materials and welding and has developed a wide‐ranging portfolio of

Keep up with the latest M&A news on www.torque-expo.com

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Standard and non-standard items

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PEOPLE NEWS

Bossard brings in new USA CEO and reaches out with senior Google and Vorwerk execs

After 13 years as CEO of Bossard North America, Steen Hansen is leaving the Bossard Group. In addi‐tion, the Board of Directors has chosen David Jones (top left) – former GM and Sika Group senior exec – to succeed him as of 1 February 2021. Jones is a mechanical engineer with an MBA from the University of Michigan in Ann Arbor. After starting his carrier at General Motors, he joined the Sika Group in 1995, most recently heading up Sika’s global Automotive Division (2013‐2020). Meanwhile, Petra Maria Ehmann (top middle), Global Lead for Product Partnerships in AR for Google, and Vorwerk Director Marcel Keller have been nominated to join the Board of Directors at Bossard. Petra Maria Ehmann’s career has included spells at Hilti and Bosch, while Marcel Keller (top right) has been a member of the management of Vorwerk International since 2018 and is in charge of digital transforma‐tion and group IT at Vorwerk. The move comes as Anton Lauber and Maria Teresa Vacalli revealed they were to step down from the Board. Also at Bossard, Rolf Ritter is taking on the new role of Head of Strategy & Business Development as well as being appointed as a member of the Executive Committee of the Group, effective 1 May 2021.

Reynolds to guide OGL’s next-gen ERP roll out

OGL Computer has appointed Gary Reynolds as Software Director to manage the roll out of the company’s next‐generation enterprise resource planning (ERP) software, Profit4. Reporting directly to OGL Operations Director Debbie Barton, Reynolds will be responsible for managing all aspects of Profit4’s UK‐wide roll out. His new role will also see him build out OGL Computer’s software offering with further functionality and integrations to meet growing customer requirements.