NORMA Group acquires business activities from joining technology manufacturer Five Star Clamps in the USAuburn Hills/Crest Hill, USA, 29 April 2014 – NORMA Group, an international market and technology leader for engineered joining technology, acquired the business of Five Star Clamps Inc. („Five Star“) in the US effective 28 April 2014. The parties agreed to maintain confidentiality on the transaction details.
Five Star with headquarters in Crest Hill near Chicago, Illinois, has been selling joining products since 1987. The high-quality clamps of the owner-managed business are distributed to customers in over 50 different industries. In fiscal year 2012, Five Star generated revenues of about USD 5 million. It will be consolidated financially as part of NORMA Group effective immediately. “Five Star Clamps has many years of expertise in the markets for joining technology,” says Werner Deggim, CEO of NORMA Group. “The acquisition will strengthen our market position in the US region. We will expand our manufacturing footprint and distribution activities as well as grow our client base.”
In the US, NORMA Group operates production facilities in Auburn Hills and St. Clair, Michigan, and in Saltsburg, Pennsylvania.
NORMA Group acquires business activities from joining technology manufacturer Five Star Clamps in the US.pdf