Acquisition expands PennEngineering’s product portfolio and technical reach
DANBORO, Pa.--(BUSINESS WIRE)--PennEngineering® announced today the acquisition of Sherex® Fastening Solutions, a global leader in the design, manufacturing, and installation of blind rivet nuts and associated fastening solutions.
Headquartered in Buffalo, New York, Sherex is a premier technical provider of blind rivet nuts, with strong application expertise, and production capabilities worldwide. Sherex has achieved an impressive growth trajectory and continues to grow through technical solutions selling, providing best total installed cost solutions along with industry leading rivet nut capabilities.
“When combined with our ATLAS® rivet nut brand, the Sherex acquisition positions the company to be the premier provider of rivet nuts worldwide. We are extremely excited to be bringing the expertise of Sherex to the PennEngineering® family,” said Pete George, CEO. “Their entrepreneurial spirit and technical acumen, combined with our ATLAS product line and broader PennEngineering capabilities, will strengthen our ability to quickly deliver innovative, high-quality fastening solutions to our customers around the globe.”
According to Sherex President, Adam Pratt, “teaming up with PennEngineering allows Sherex to provide our customers with additional global manufacturing capability to meet their demands around the world. Our long-standing customer relationships, combined with the reputation and history of PennEngineering will allow us to continue to provide enhanced value to our customers.”
Adam Pratt will assume the role of President of Sherex and ATLAS, reporting to Pete George, CEO of PennEngineering. Alex Hsiao will continue as General Manager, Sherex Taiwan.
About PennEngineering
Since 1942, PennEngineering® has enjoyed a sustained reputation as the global leader in the fastening industry. The company's brands, PEM®, PROFIL®, ATLAS®, PennAuto®, are considered the premier manufacturer for clinch and mechanically attached fasteners. Haeger®, for installation systems and Heyco® for molded and stamped products.
PennEngineering’s commitment to engineering expertise and global innovation ensures that we continue to grow our portfolio with solutions that allow our customers to not only keep pace with marketplace challenges – but exceed them.
About Sherex
Sherex Fastening Solutions is an innovative manufacturer of fasteners for a variety of industries. Sherex product lines of rivet nuts, clinch nuts, threaded inserts, Disc-Lock® and TEC Series® wedge-locking products, and fastener installation systems are used by many Fortune 500 OEMs to strengthen attachment points while decreasing assembly times and waste.
Contacts
PennEngineering
Suzanne Lawton
Vice President, Marketing and Communications
slawton@pemnet.com
Sherex Fastening Solutions
Adam Pratt
President, Sherex
apratt@sherex.com
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