“Very interesting day indeed for Termax! I want to thank Mike and Bill Smith for the opportunities provided some over years ago to work with them and be a part of growing the company as it is today and has been a great ride working with them. Wishing them the best as they move onward, and we will all continue to work diligently to carry on the torch for Termax with the same principles and values as they instilled upon us!”
– Chad Rickwood, Vice President of Sales
LISI Group announces the signing of an agreement to acquire the remaining 49% of TERMAX LLC’s equity. This transaction, initially planned for the first quarter 2021, enables LISI Group to become the sole owner of TERMAX LLC as of July 1st 2020.
“With TERMAX LLC, LISI AUTOMOTIVE has extended its global footprint in clip-fastening solutions in a lasting manner. The commercial and industrial synergies between our Clipped Solutions Business Group and Termax will continue to bear fruit. They will allow us to bring to a wider customer base the best development and production capabilities to offer innovative solutions in the areas of weight reduction, electrification and autonomous vehicle equipment”, said François LIOTARD, Chief Executive Officer of LISI AUTOMOTIVE.
For our customers in North America and our employees, Termax will continue to operate under the Termax brand and under current management 100%, whilst being 100% part of LISI Automotive and able to offer the full range of Clipped Solutions products to its customers in North America and worldwide.