According to the Rheintaler fastening technology group, SFS, the North America market is becoming increasingly important. For this reason, SFS is expanding its expertise with a new U.S. company acquisition, Truelove & Maclean (T&M).
T&M is a provider of deep-drawn components primarily for customers in the automotive industry. The company had sales of around $36 million in 2019 with around 110 employees, says SFS.
In addition to the automotive sector, T&M also supplies customers from the heating and air conditioning technology, as well as other industries.
Although there is already a strong presence of cold forming, precision machining, and heat treatment in the United States, T&M offers the possibility of establishing this core technology from SFS with its deep-drawing technology. This would enable customers to be supplied with deep-drawing components locally in the future.
T&M will be integrated into SFS Automotive division within the Engineered Components segment. The company will continue to be managed by the existing management.
SFS expects the transaction to be completed by the end of March.
SFS Group NA