The construction technology corporation Hilti is acquiring the German PEC Group. With the acquisition, Hilti intends to boost its fastening solutions segment with anchor and installation channels, as well as to gain access to new markets in Asia.
The partners have already signed a contract for the acquisition, while the transaction is expected to close by the end of 2016, announced a statement. The PEC Group develops and produces anchor and installation channels, as well as accessories for fastening solutions for elevators and facades, and tunnel and bridge construction applications. Given the combination of product lines between the two companies, Hilti will in future be able to offer a broader range of fastening solutions itself, added the statement.
Because the PEC Group has sales locations in India and the United Arab Emirates, as well as a manufacturing site in Suzhou in China, Hilti sees great opportunities in the Asian market. We are convinced that the PEC Group acquisition will not only strengthen our business with anchor channels but also help us to further improve our leading position in the fastening technology sector, commented Hilti executive board member Stefan Nöken.
The PEC Group, which was founded in 2008, employs around 100 people at its headquarters in Duisburg. All of the employees will continue to be employed in their current functions. Speaking about the acquisition, Bern Hebborn, PEC founder and CEO, said: Due to our strong international growth we were looking for a partner to make better use of our market potential. Hilti is extremely well-positioned to achieve this."