TORONTO-Interfast Inc., an aerospace and industrial fastener distributor, has signed a letter of intent for the acquisition of Burwood Fastener Products Ltd. of Chobham, Surrey, United Kingdom. Burwood supplies fasteners, hardware and other consumable products to the aerospace, automotive, marine, government and commercial sectors. The acquisition will operate under the name Interfast Europe Ltd.
“This acquisition is a significant step forward for both organizations, allowing us to immediately establish a greater presence in Europe, while adding value and broadening the range of products available to Burwood’s existing customers,” says Peter Oleck, director of Interfast Inc. and general manager of Interfast USA. “We will greatly benefit from Burwood’s European fastener standards experience and their connections with customers and European manufacturers.”
“Burwood sees great strategic value in bringing these two organizations together,” says Howard Gerstein, managing director, Burwood Fastener Products Ltd. “Interfast has a proven track record of success in servicing the aerospace and industrial markets. We bring a strong team, with deep relationships and a proficient understanding of European market requirements. The combined result will be a significantly strengthened presence dedicated to servicing the European community.”