SENCO Brands Acquired by Kyocera Corporation
Fastening systems manufacturer SENCO Brands announced that it has been acquired by Kyocera Corporation, and will now operate as part of Kyocera’s Global Cutting Tool Division. Senco will continue to provide the powered fastening categories most comprehensive line of pneumatic and cordless nailers, staplers, screwdrivers, and fasteners through its professional distribution network in more than 40 countries. Senco’s global headquarters will continue to be based in Cincinnati, Ohio. Staff and management will remain in place and lead the integration transition to new ownership.
SENCO is a pioneer in pneumatic tools and collated fasteners, with a proud legacy that extends back to 1948. It employs nearly 600 associates worldwide and maintains operations in more than 15 global locations. Kyocera Corporation is a multinational ceramics, electronics and industrial cutting tool manufacturer headquartered in Kyoto, Japan. Kyocera consists of more than 200 operating companies and has over 70,000 employees located throughout the world. Senco will report to Mr. Ken Ishii, Director & Senior Managing Executive Officer, General Manager of Corporate Cutting Tool Group.
“This is an exciting opportunity for our associates, customers and suppliers,” said Ben Johansen, CEO of Senco. “Kyocera has been expanding and investing globally within its Cutting Tool Division. We expect this acquisition to strengthen our new product development capabilities, bolster our ability to provide innovative fastening solutions to a wider range of customers and enhance our global distribution network. We thank Wynnchurch for their significant strategic and financial support during their eight-year ownership, a period in which Senco more than doubled in revenue. Today, Senco officially becomes part of the Kyocera family, bringing us a new and exciting perspective of long-term ownership and marketplace investment.”