Holmbergs Safety System purchases Austria-based Fasching Safety Belts

Holmbergs Safety System Holding, a Halmstad, Sweden-based company which produces safety systems for the child safety seat industryannounced getting into an agreement to acquire Austria based Fasching Safety Belts GmbH, a leading provider of safety belts for the bus and motor coach industry.

The acquisition is part of Holmbergs’ strategy of growing its Secured Transportation business, by complementing its global market leading position in child safety systems.

Fasching’s current owner will re-invest a substantial part of the transaction proceeds in Holmbergs, as well as remaining in the Board of Directors for Fasching and working actively with strengthening the Holmbergs Group’s overall position in the DACH region.

Holmbergs, founded in 1938 and led by CEO Anders Sandell, started manufacturing components for seat-belts as far back as the 1950s and now is one of the market leaders. The company expects proforma revenues of SEK 430M ($54M) for 2017.

Fasching, led by CEO Peter Mayer, is a global leading manufacturer of safety belts for buses, commercial vehicles and wheelchairs. The company has revenues of EUR 10M ($12.4M).