EuroFasteners January 2021

Corporate News

Atlas Copco to acquire automated metrology specialist

Atlas Copco has entered into an agree- ment to acquire Perceptron, a supplier of automated metrology solutions. The company is headquartered in the USA and is listed on the NASDAQ stock exchange in New York. “Flexible automation and in-line quality control on the production line are two strong trends where we want to support our customers in their transition towards digital manufacturing,” said Henrik Elmin, business area president industrial technique. “Through Perceptron’s position in auto- mated metrology and robot guidance, together with the recent acquisition of ISRA Vision, we are creating a strong offering in machine vision solutions and extending the smart factory automation business segment.”

Perceptron has approximately 300 employees and is headquartered in Plymouth, Michigan, USA. Atlas Copco will pay US$7 per share, corresponding to an enterprise value of $62.7mn, including $6.2mn of assumed net cash on hand. The total purchase price will be $68.9mn. The offer represents a premium of 66 per cent to Perceptron’s 30-day average closing share price of $4.22 up to 25 September 2020, the last trading day prior to the announcement. “The acquisition of Perceptron will enable us to increase our customers’ productivity through best-in-class quality control and an increased automation level,” said Mr Elmin. “Perceptron has almost 40 years of experience as a leading global provider

of 3D automated measurement solu- tions. There are several identified synergies in sales, operations, service and technology development from Perceptron joining the machine vision solutions division.” The transaction has been approved by the boards of directors of both companies, and Perceptron’s largest shareholder, affiliates of Harbert Management Corporation, has signed a voting and support agreement in favour of the proposed transaction.

Perceptron will become part of Atlas Copco’s newly created machine vision solutions division, within the industrial technique business area. Atlas Copco AB www.atlascopcogroup.com Cable cleat manufacturer’s North Yorks UK facility expansion

UK-based cable cleat manufacturer Ellis Patents has invested in a 25 per cent expansion of its North Yorkshire headquarters. The main element is a new warehouse, to be used primarily for assembly and storage, which has released space in existing areas of the facility to expand production. Managing director Richard Shaw said, “The extended manufacturing space will allow us to increase our range of

manufacturing processes, bring even more new, and unique, products to market, and widen the range of markets we serve.” Danny Macfarlane, operations director of Ellis Patents, said, “Finishing the construction phase just as the pandemic struck the UK provided us with a unique opportunity to completely reorganise our entire factory, which would have been impossible under normal working conditions.

“The new space is more logically planned, which has improved work flow and reduced down time, making us significantly more efficient. “All of which means we are emerging as a business in great shape, ready to make the most of the opportunities and challenges presented by the post- COVID world.” Ellis Patents Ltd www.ellispatents.co.uk

Acquisition brings industrial solutions Condat SA has acquired the Italian company Kemno, and will create a 100 per cent subsidiary to be named Condat Italia. fluids, maintenance oils and greases, and quenching oils.

from the acquisition as it will be able to expand while being supported by a stable international group. Condat Group will benefit from a strengthening of its diversification strategy in Italy, particularly in the fastener and machining industries. Condat SA www.condat-lubricants.com

Condat, based in France, formulates andproduces awide rangeof lubricants. The company is able to supply prod- ucts for a diverse range of industries, including wire drawing, tunnel boring, forging, glass, machining, heat treat- ment and industrial maintenance. It is expected that Kemno will benefit

Kemno sas di Novati Davide & C specialises in the production of neat and soluble coolants. Mainly active in the cold heading business, it also offers metal working

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January 2021