Spate of mergers and acquisitions
An item in the April 1 issue of The Kiplinger Letter, a business and economic forecast published weekly, suggested that a tough business climate for manufacturers of various products will spur mergers and acquistions among companies looking “to consolidate forces to keep going.” And judging from the spate of mergers and acquisitions announced since the beginning of this year, it would appear the prediction was no April Fool’s Day joke.
Before scanning over the recent acquistions listed below, it might help to know that The Kiplinger Letter also suggested “a pickup in temporary jobs may foreshadow an upturn in hiring by manufacturers.”
OSG acquires Amamco Tool
In an effort to expand its reach within the aerospace industry, OSG USA Inc. has purchased Amamco Tool & Supply Co. Inc., an ISO 9001:2008 and AS9100C registered company that makes high-quality, custom, carbide tools for manufacturers in the aerospace, automotive and medical industries, according to an OSG USA news release.
Kyocera acquiring SGS Tool
Effective May 2, Kyocera Corp. will acquire 100 percent ownership of the SGS Tool Co., to expand the Japanese company’s current North American cutting tool business by 2.5 times by March 31, 2019, according to Kyocera President Goro Yamaguchi, who announced the deal in a company news release issued March 30.
Hexagon acquires AICON 3D Systems
Hexagon AB, a global provider of information technologies for driving productivity and quality across geospatial and industrial enterprise applications, has announced the acquisition of AICON 3D Systems, a leading provider of optical and portable non-contact 3D measuring systems for industrial manufacturing.
NTC Laser to join Komatsu America
In a move aimed at providing improved sales and service support as well as new and innovative products, NTC Laser will join Komatsu America Industries LLC as of April 1, sources at both companies reported in a joint news release.
Coherent to acquire industrial laser maker Rofin-Sinar
Laser technology company Coherent Inc. will acquire industrial laser maker Rofin-Sinar Technologies Inc. for about $942 million, according to a joint news release issued by the two companies March 16. “This transaction is aligned with our strategy of increasing our scale and pursuing accretive growth opportunities,” said Coherent President and CEO John Ambroseo.
Single Source Technologies acquires Automation Solutions
Single Source Technologies (SST), a North American distributor of machinery brands based in Auburn Hills, Mich., recently announced the acquistion of Automation Solutions Inc. (ASI), effective as of Jan. 18, according to a Feb. 9 SST news release.
Visotek joins Laser Mechanisms
Laser Mechanisms Inc., Novi, Mich., announced that it has acquired Livonia, Mich.-based Visotek, a provider of Smart Laser Tools™ that are said to simplify the use of lasers in any environment. The acquisition is expected to complement Laser Mechanisms’ core business of providing industry-leading laser beam delivery solutions.
Sandvik acquires Prometec GmbH
With the acquisition of Prometec GmbH, Aachen, Germany, Sandvik Coromant “strengthens its offering in digital manufacturing,” according to a Sandvik news release issued Feb. 1. A supplier of advanced solutions for monitoring and controlling of machining processes in production machines, Prometec will be integrated with Sandvik Coromant, a product area within Sandvik Machining Solutions.
Speedgrip Chuck acquired by Stratford-Cambridge Group
Speedgrip Chuck Inc., an Elkhart, Ind.-based designer and manufacturer of highly engineered workholding mechanisms, has been sold to an affiliate of Stratford-Cambridge Group, a private investment firm headquartered in Plymouth, Mich. Speedgrip announced the transaction in a news release issued Dec. 16.
Dorner Holding acquires flexible chain conveyor company
Dorner Holding Corp., Hartland, Wis., recently announced the acquisition of FlexMove, a leading manufacturer of flexible chain conveyors for food, beverage, automotive, electronic and other industries.
Urso & Urso acquires CECOR
CECOR, which manufactures the “Sump Shark” coolant sumpcleaners and industrial carts, announced Jan. 8 that Urso & Urso Inc. has acquired the Verona, Wis.-based company from the RuMo Group LLC. The transaction, accorinding to a CECOR news release, will provide the company with greater access to more opportunity and resources for future growth.
OSG USA acquires IMU Dies assets, technology
OSG USA Inc., a manufacturer of taps, drills, end mills, dies and indexable cutting tools, recently acquired the assets and proprietary manufacturing technology of IMU Dies. Effective immediately, OSG becomes the exclusive source for IMU branded dies globally.
Gleason buys Brazilian gear cutting tool company
The Gleason Corp. early this month announced the acquistion of the gear cutting tools business from Hurth Infer Indústria de Máquinas e Ferramentas Ltda., located in Sorocaba, Brazil. Now known as Gleason Indústria de Ferramentas Ltda., the gear cutting tools business includes shaving cutters, shaper cutters, chamfering and deburring tools, as well as tool sharpening services for such products.
Cutting Tool Engineering