Roto AG Acquires Fasco
Fasco Die Cast Inc., a manufacturer of window and patio door hardware based in Mississauga, Ontario, has been acquired by Roto AG, the parent company of Roto Frank of America Inc. The new subsidiary will operate under the Roto Fasco Canada name.
“This targeted acquisition in Canada is testimony to Roto’s international growth strategy, strengthens our presence and significance in North America, and serves as a base for continued growth,” states Eckhard Keill, chairman of Roto AG’s executive board.
Despite the slow recovery in the real estate and building and construction industries, the global hardware producer based in Germany decided the time was right for this acquisition, he continues. “Although the pronounced real estate market crisis in North America generated a market decrease from 2008 to 2011 of approximately 30 percent, Roto Frank of America increased its business by approximately 40 percent and gained significant market share. Even though the market has been slow to recover, Roto Frank of America projects a healthy increase in 2012.”
“Fasco is an ideal complement to Roto Frank of America’s products and therefore increases the relevant market potential," adds Chris Dimou, who has served as CEO and president of the Roto operation in Chester, Conn., and now holds that title for both North American organizations. "The additional production and warehouse capacity further improves the ability to react quickly to customer needs. In addition, one of the reasons we acquired Fasco is because of the people. They are a talented, hard-working group. Their philosophy of partnering with customers and providing excellent customer service is truly aligned with our philosophy at Roto.”
The investment in Fasco is the result of “extraordinary company improvement” at Roto Frank of America, Dimou continues. “Roto’s success story here in North America is based on the sustainable new strategic direction of our manufacturing and distribution organization. The focus has been, for example, improvement of efficiencies of internal processes, increased sales personnel and therefore more complete market coverage, market-inspired product development, and a company-wide customer focus. The latter in particular has been a major differentiating factor,” he concludes.
Roto Fasco Canada, which produces handles for patio doors, sash locks, casement parts, sliding door hardware, and custom zinc die-castings, will continue to operate as usual out of its headquarters and manufacturing facilities located in Canada.
Founded in 1935, Roto Frank AG is based in Leinfelden-Echterdingen, a suburb of Stuttgart. Consisting of two divisions–one devoted to hardware for windows, doors and skylights and the other focused on solar technology–Roto employs more than 4,000 people and currently operates 12 manufacturing facilities as well as 40 sales subsidiaries and sales partners worldwide.