Swiss watch tooling specialist Petitpierre SA has joined a group of manufactures specialising in the manufacture of watch components.
The Swiss firm has joined Acrotec Group, which consists of a further six suppliers to the watch industry. Petitpierre boss Boris Petitpierre joins the Group’s executive committee.
Petitpierre SA was founded in 1973 and employs around 40 people in the production of tooling geared towards microtechnology and the watch industry.
“The partnership between Petitpierre SA and Acrotec Group has decided to strengthen the sustainability of our business,” said Boris Petitpierre. “We also bring [to] Acrotec our expertise for the automatic assembly of parts produced by other Group companies. Beyond this contribution to the watch industry group, Petitpierre SA will be able to enter markets that it could not reach before as, for example, the medical field and the automotive sector. ”
It joins rotor specialist Decovi, General Springs, KIF Parechoc, K2A, Vardeco and STS Galvano as member of Acrotec Group.
François Billig, chairman of Acrotec Group, said: “Petitpierre SA shares the values of Acrotec Group: independence, respect, solidarity and complementarity. Obvious synergies of this acquisition put, more than ever, Acrotec as the leading independent player in the Swiss watch industry. We can still continue to grow and develop together our ambitious projects.”
It is understood that Petitpierre’s owner has acquired a minority stake in Acrotec Group in return for majority stake in Petitpierre.