MANHEIM, Pa. — December 2, 2020 — Fenner™ Precision Polymers, a Michelin Group Company, announces the acquisition of MAV S.p.A., a European supplier of keyless-locking devices (KLD), shrink discs, rigid couplings, and other metal products. Strong potential growth, market share gains and an opportunity to leverage the many advantages associated with a global supply chain are among reasons cited for the acquisition. No employee redundancies or loss of roles are anticipated because of this agreement.
“Under ideal circumstances all parties benefit during an acquisition, and that is certainly the case here,” said Jack Krecek, divisional managing director, Fenner Precision Polymers. “All customers, including those in under-served and emerging markets, will benefit from our combined technical expertise, speed to market and turnaround times. MAV will continue operating under its esteemed brand, while also gaining access to a global sales force with considerable client relationships. This allows Fenner Precision Polymers to become the global leader in keyless locking devices. The acquisition further adds technical design expertise to our ranks, allows us to vertically integrate solutions and vastly improves our positioning in the global supply chain.”
For years Fenner Precision Polymers worked to reestablish a previous relationship between MAV and Fenner Drives B-LOC Keyless Bushings. “The original partnership between our companies helped establish the KLD market in North America,” said Krecek “It is our goal to re-establish that link so that we can leverage the combined strengths of both companies to grow our business outside of North America.”
“The expression ‘small is beautiful’ has long defined Italian ingenuity,” said Sandro Zamboni, CEO, MAV. “Though a small company, when viewed through the eyes of globalization, MAV’s expertise looms large. We’ve successfully penetrated distant markets, strengthened relationships with customers and earned their trust and respect. However, we’ve now grown too big to remain small. This venture welcomes MAV to a larger multinational organization and better positions it to serve all markets. Joining with Fenner Precision Polymers offers a tremendous benefit to our customers as well, through our combined technical acumen, the resulting innovations in engineered solutions and the anticipated benefits from economies of scale.”
Posted December 2, 2020
Source: Fenner Precision Polymers