PSM International is a multinational full service provider of fastening solutions to a diverse customer base in the automotive, notebook, mobile phone and general manufacturing industries. The business has a strong presence in the Asia-Pacific, Europe and US markets.
With manufacturing facilities in China, Taiwan and the UK, PSM's products include a complete range of inserts for plastics, as well as multiple fastening solutions for sheet metal. PSM works with customers throughout the product life cycle, from design conception through product launch and general production.
Market trends and drivers
The automotive sector in China has seen strong growth and this trend is expected to continue going forward. Further, the recent growth in smartphones has also led to a strong mobile segment.
EQT invested into PSM because of the company’s strong manufacturing capability in China and global sales distribution footprint. PSM also has a long track record and a strong international brand. There are also opportunities to further product development and enter into new segments and geographies.
Key events since EQT investment
- Established experienced Board of Directors: Gunnar Gremlin, former President of SKF in China (Chairperson), Christopher Shelley, former President of Invensys APV in Asia Pacific and Krister Mellve, former Bosch and currently board member of Modern Metal
- Completed add-on acquisition of BAS Components which increased PSM’s exposure to the automotive segment
- Strengthened design capability by developing TRI-STEP as a new patented product
- Increased sales coverage across Asia
- Improved production capability and reduced cost structure