Franklin-based manufacturer Tegra Medical announced Monday that it will be acquired by a Swiss company for an undisclosed amount.
The contract-manufacturer of medical device components will be acquired by SFS Group AG, a provider of customized precision formed components and mechanical fastening systems headquartered in Heerburg, Switzerland, for an undisclosed amount. According to a release from Tegra, the company will become a subsidiary of SFS under the Tegra Medical brand but will continue to have its headquarters located in Franklin.
According to a company spokesperson, everything will be business as usual for the manufacturer with its 740 employees and facilities continuing to run as they have been. Tegra has 200,000 sq. ft. of manufacturing space in four locations in the U.S. and Costa Rica.
The senior management team will remain and the President and CEO J. Mark King will serve on the SFS Group Executive Board. King said this is an opportunity for the company, which was founded in 2007, to grow along with its customers using the additional resources of SFS.
It was that manufacturing capacity that attracted SFS to Tegra, according to the company’s CEO Jens Breu, which has a focused medical device expertise. SFS has approximately 8,300 employees with manufacturing sites and distribution companies at more than 70 locations in 25 countries around the world.
