Hi-Vol Products, KEO Cutters and Richards Micro-Tool join ARCH Global Precision
ARCH Global Precision, a Strength Capital Partners platform company that is focused on precision machined components and cutting tools & instruments, today announced the acquisition of substantially all of the assets of Hi-Vol Products, KEO Cutters and Richards Micro-Tool from TriMas Corporation. The purchase price for the businesses was $38.6 million, plus additional contingent consideration up to $2.5 million, based on achievement of certain levels of future financial performance.
“We are extremely pleased to have acquired these businesses from TriMas Corporation to form the foundation for ARCH Global Precision’s two operating segments – precision machined components and cutting tools & instruments”, commented Eli Crotzer, ARCH Global Precision President and Chief Executive Officer. “With the combined experience, knowledge and expertise of Strength Capital Partners and the senior management team at ARCH Global Precision we expect to successfully grow ARCH Global into a market leading position through a combination of focused organic growth and a series of complementary acquisitions.”
Hi-Vol Products is a supplier of tube nuts and engineered precision machined components to the automotive and industrial markets of North America. KEO Cutters and Richards Micro-Tool produce a variety of precision cutting tools such as combined drill and countersinks, NC spotting drills, key seat cutters, end mills and countersinks, as well as a series of precision cutting instruments for medical and dental applications.