Swedish energy solution company Atlas Copco reported on Tuesday the launch of an agreement to acquire the assets of Klingel Joining Technologies for an undisclosed value.

Based near Munich, Germany, Klingel Joining Technologies is one of three business units of Klingel GmbH. The business had revenues of EUR8.5m in 2017. It specialises in flow drill technology, which is a mechanical joining method used for aluminum and mixed material applications for the automotive industry.

Upon closing, the acquired Klingel business will become part of Atlas Copco's Industrial Assembly Solutions division in the Industrial Technique business area and 23 employees from Klingel are joining Atlas Copco.

This acquisition is subject to regulatory approvals and is expected to be completed during the second quarter of 2018.