Atlas Copco has closed the acquisition of the assets of Klingel Joining Technologies. The company specializes in flow drill technology, a joining method used in the automotive industry.
Klingel Joining Technologies is based near Munich in Germany and is one of three business units of Klingel GmbH. The business had revenues of approximately MEUR 8.5 (MSEK 82) in 2017 and 23 employees are joining Atlas Copco.
Source: Atlas Copco
Atlas Copco announced on March 6, 2018 that it had agreed to acquire the assets of Klingel Joining Technologies. The purchase price is not material relative to Atlas Copco’s market capitalization and is not disclosed.
Flow drill technology is a mechanical joining method used for aluminum and mixed material applications.
The acquired business becomes part of Atlas Copco’s Industrial Assembly Solutions division in the Industrial Technique business area.