A match made across the Atlantic. On Tuesday, leading Italian precision machinery company Poggipolini announced it had closed a deal to acquire United States-based Houston Precision Fasteners, a top manufacturer of high strength, fatigue-rated, close tolerance fasteners and precision machined components. It’s another notch on the belt of the ever-expanding Italy-US industrial cooperation.
- The deal is still subject to review by the US Committee on Foreign Investment, which is responsible for assessing the national security implications of foreign investment.
Aerospace and defence-centred. As Poggipolini highlights in a press statement, this is a “momentous leap” for an Italian SME. It will allow the Bologna-based group to accelerate its growth and strengthen an innovative value proposition across the entire aerospace and defence value chains. That’s why it went for this “strategic acquisition;” with its established presence in Houston, HPF will bring “invaluable industry knowledge, a rapidly expanding customer base, and a team of experienced professionals that embodies Poggipolini’s spirit of excellence and innovation.”
- Poggipolini specialises in critical fasteners and innovative components and already counts industrial titans like Leonardo, Boeing, Safran and Ferrari among its customers to pursue a position of excellence in international, innovative and strategic markets such as aerospace and defence.
- Over the years, HPF has established itself as the supplier of choice for major players in the US aerospace and defence market, including SpaceX, Blue Origin, Boeing, Lockheed Martin, Bombardier Aerospace, Axiom, Northrop Grumman, Bell and leading supply chain distributors.
The transatlantic positioning is essential to continue growing in such a strategic market, which is Poggipolini’s core business, said Michele Poggipolini, CEO of the Italian company. By integrating HPF’s experience and state-of-the-art solutions, he added, his company is “ready to set new industry standards.” It aims to expand its market footprint by upgrading its technologies to the maximum, in the knowledge that the US market is “pivotal to our long-term strategic growth.”
- The collaboration with HPF is “very exciting because the two organisations resonate with the same values and aspirations,” he concluded, assuring that the best is “yet to come.”
