Investment AB Latour has, through its wholly-owned subsidiary Nord-Lock Group, acquired Precision Bolting Ltd. (PBL) and Condor Machinery.
Founded in Western Canada in the late 1980s, PBL offers premium bolting products and custom solutions for challenging applications. Its production facility is located in Edmonton, Alberta, and offers technical expertise, stocked inventory, and custom fasteners from specialty materials.
Condor is also located in Edmonton and has been offering quality machine shop service since the ’80s. It also offers repair and maintenance services to get equipment back to operating as it should.
PBL is a Nord-Lock Group distributor and Condor is a niche manufacturer of specialized metal components — a combination which adds great value for the customers served. It’s believed the two companies will strengthen Nord-Lock’s position in Canada and contribute to the Group’s global offer within the mining segment in particular.
“We have been able to get to know the companies well over the years and are impressed with what they have achieved. We are convinced that the companies’ strengths will contribute greatly to the overall Nord-Lock Group offering and that Nord-Lock Group in turn will continue to support the companies’ continued growth going forward,” said Nord-Lock CEO Fredrik Meuller.
“We have worked closely with Nord-Lock Group for many years and see this as a natural next step for the development of PBL and Condor. Together with Nord-Lock Group and its strong market position we are looking forward to continuing this growth journey together,” added Ken Gamroth and Brent Morgensen, CEOs PBL and Condor.
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