SAF-Holland SE (SFQ.DE), a chassis related components manufacturer, Wednesday announced that it has acquired the Netherlands based IMS Group B.V., for a purchase price in low single-digit million euro range.
On completion of acquisition, the company intends to use IMS Group's environmentally friendly technologies to strengthen and expand its market position in the Netherlands, Belgium and Luxembourg.
IMS Group, which currently has 38 employees, was acquired from its former exclusive distribution partner Pon Group, the company said in a statement.
Currently, SAF-Holland's stock is trading at 15.29 euros, down 1.23% on the XETRA.
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