Oetiker Group acquires Levi Peterson Group, a leading manufacturer of engineered fastening solutions.
Horgen, Switzerland / Anderstorp, Sweden, 12 August 2014
Oetiker Group, a leading international manufacturer of connecting solutions, acquired the entire share capital of Smalland AB, the parent company of Levi Peterson Group, effective 8 August 2014. With this acquisition, Oetiker reinforces its market position in the heavy vehicles market and further strengthens its position as one of the leading suppliers in the automotive industry.
Levi Peterson Group - this year celebrating its 100th year of existence - develops, manufactures and markets straps and V-clamps mainly for the heavy vehicles market. Customers choose Levi Peterson for its strong engineering competencies and its ability to quickly develop customized solutions as a result of an early involvement in the design process of the customer.
Levi Peterson Group is headquartered in Anderstorp, Sweden, and has a second production facility in Lithuania (Druskininkai) and sales offices in the US, Germany and Belgium. The Group generates sales of EUR 16 million with a workforce of over 120 employees.
Smalland AB, the parent company, was mainly owned by Fredrik Idin, who - as a member of the 4th generation of the founding family - has successfully internationalized the business. “Right from the first contact, I felt that Oetiker would be the right partner for my company. I believe it is now the ideal time for our companies to join forces and I see a great future for the Levi Peterson Group within the Oetiker Group,” says Fredrik Idin, former owner and CEO of the Levi Peterson Group.
“Levi has a very attractive product portfolio for the heavy vehicles market. Its portfolio is complementary to ours and allows us to gain a stronger foothold in this market,” says Thomas Meier-Bickel, CEO of Oetiker Group. “We see significant growth potential for Levi’s products due to stricter emission standards worldwide and are convinced that we can further increase sales, especially in Asia and the Americas, with the help of our global sales network.”
“The acquisition of Levi Peterson Group is in line with our Group Strategy 2015 and shall be the starting point for further acquisitions in the future,” adds Thomas Meier-Bickel.
Founded in Horgen, Switzerland in 1942, the Oetiker Group serves customers in over 70 countries and is a global leader in clamping and connection solutions. Oetiker designs, manufactures and distributes clamps, rings and quick connectors as well as appropriate assembly solutions. Oetiker’s connecting solutions can be found in Automotive and Industrial applications. The Oetiker Group is a privately held company with more than 1200 employees worldwide in over 20 locations across Europe, Asia, and the America’s. In 2013, the company generated sales of EUR 175 million.