SFS Group has entered an agreement to buy Triangle Fastener Corporation (TFC), headquartered in Pittsburgh, USA.
Talks opened last year between SFS and TFC, which provides fasteners and other products for the commercial construction industry. In 2018, TFC produced sales of over $70 million in 2018, with approximately 200 employees.
The move will give SFS greater access to the American building sector and will see TFC operate as part of the Construction division within the Fastening Systems segment.
Founded in 1977, TFC supplies end users in construction with customer-specific fasteners, as well as other application solutions. It has around 6,000 active customers thorough 23 branch locations in 15 states. TFC's existing management will be arranged as part of the acquisition.
SFS Group owns Gesipa, Tegra and Unisteel, with a 51% stake in Heco. SFS saw 6.5% sales growth in 2018, with its Fastening Systems segment seeing 'above-average' performance.
