Bosch Tools has acquired the power tool accessories business of the Floyd Group, headquartered in Milan, Italy. With this acquisition, Bosch adds to its existing range of power tool accessories, especially the high-performance Freud. Among other things, they make some of the best thin cut miter saw blades, circular saw blades and routers. The deal also includes Diablo accessories. With Bosch acquiring Floyd, the deal should bring some excellent shared technology to both brands. The two companies agreed not to disclose the purchase price.
floyd and diablo background
The Freud Group is a global supplier of circular saw blades, milling cutters and knives for woodworking enthusiasts, professionals and industrial users. They produce under the Floyd and Diablo brands. The products are mainly produced at four sites around the city of Udine in northeastern Italy. In this field, the company has around 580 employees worldwide and achieved sales of EUR 100 million in 2007.
Feedback on Bosch's acquisition of Floyd Accessories
"Freud is an innovative supplier of high-quality circular saw blades, routers and knives to trade and industrial professional users. The company has achieved worldwide success in these fields, especially in North America. This makes Freud A perfect complement to our business, both technically and regionally. As we further expand this business, we will build on the experience and extensive expertise of Floyd's colleagues and managers,"
Uwe Raschke, Member of the Board of Management and President of the Power Tools Division of Robert Bosch GmbH
"In our opinion, Bosch is the best partner for Floyd's power tool accessories business and will help it continue to grow globally, especially in North America. Floyd's expertise and manufacturing capabilities will certainly strengthen Bosch's current position in this field.”
Gino Pozzo, Managing Director, Freud SpA
Gianpaolo and Gino Pozzo will continue to accompany Floyd's accessories business as advisors for the next three years. The family will be represented in various governing bodies and, together with Bosch, help shape the company's future.
With the acquisition of Floyd by Bosch, it is the fifth strategic acquisition the company has made this year to strengthen its power tools division. In January 2008 and July 2008, Bosch expanded its measuring tools business by acquiring the Chinese specialist RoboToolz and the US company CST/berger. A few weeks ago, Bosch also acquired part of the garden irrigation business of LR Nelson Corporation in Peoria, USA, to strengthen its garden irrigation product range. In addition, it acquired a majority stake in Sia Abrasives, a Swiss manufacturer of flexible grinding systems.
With power tools, accessories, garden tools and measuring technology, the division employs around 16,000 people worldwide.