September 3, 2014 – PennEngineering® (Danboro, PA, USA) has acquired PROFIL Verbindungstechnik (Friedrichsdorf, Germany), it was announced today by both companies. PROFIL will continue to operate as a separate company under the PennEngineering corporate umbrella and the PROFIL brand of mechanical hardware will remain unaffected. In addition, Dr. Frank Grunow, CEO of PROFIL and Petra Michels, Chief Financial Officer, will continue to lead the company along with the existing PROFIL management team. Dr. Grunow and Ms. Michels will report to Mark Petty, CEO of PennEngineering. Terms of the acquisition were undisclosed and no changes are anticipated regarding operations, facilities, and employees. The acquisition ultimately is expected to expand sales growth opportunities for both companies, as well as increase the global awareness of PROFIL’s highly regarded brand.(…)
