Swiss investor group acquires manufacturer of riveting machines from Feintool International Holding AG

A Swiss investor group has acquired BalTec Maschinenbau AG, the manufacturer of riveting machines, from Feintool International Holding AG. The investors expect to further strengthen BalTec’s leadership within the riveting machine market. Post the acquisition; all 50 of BalTec employees will be retained by the new owner.

The Swiss group of investors comprises of Walter Gränicher, Alid Finanz AG and KMU Capital AG. The investors announced they had reached an agreement with Feintool International Holding AG regarding the BalTec takeover. BalTec has its head office in Pfäffikon, Switzerland, with branches in France, the UK and the USA. The firm is the world market leader in riveting machines manufacture.
 
Walter Gränicher, Chairman of the Board of Directors of BalTec Holding AG, said the firm is convinced that its entrepreneurial philosophy will enable it take its riveting business into further sectors.
 
Feintool Group CEO, Heinz Loosli, on his part commented that the sale of BalTec enables Feintool to focus its business and continue the development of its core competencies. Loosli noted that there were few synergies between BalTec and the other companies within the Feintool Group. With sales of just under CHF 20 million, the riveting machine business was not sufficiently close to Feintool’s core activities, he said. Loosli said BalTec will develop better market opportunities within the framework provided by its new owners.
 
A leader in the global market for riveting machines, Baltec is headquartered at Pfäffikon, Canton Zurich (Switzerland) and has a headcount of around 50. It has its own sales, engineering and service companies in the UK, France and the USA. In addition, about 40 representative offices around the world attend to customers and service the 30,000 riveting machines installed by the company to date.

BalTec has been undertaking ongoing innovation, especially in process and riveting control, in order to secure its cutting-edge technological position for the future. BalTec’s radial riveting technology provides first-rate solutions wherever top-quality riveting is required, and even in areas where non-rivet-based techniques were previously used.

The investor group receives entrepreneurial support from INVESTNET AG, Herisau. The partners and directors of Investnet AG, a joint-stock company subject to Swiss law with its registered office in Herisau (Canton Appenzell-Ausserrhoden), have a long and successful track record in trade, services and industry.

Among other things, they have been responsible for the strategic and operational management of companies ranging from small firms up to listed multi-billion-franc operations.

22nd March 2011

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