Indiana metal fabricator acquired
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Koester Metals Inc., a metal fabrication company in the Steuben County town of Fremont, is under new ownership. The company has been acquired by Iowa-based Distinctive Manufacturing Group (DMG), though financial terms are not being disclosed.
Koester Metals was founded in 1975. The company provides fabrication, as well as contract manufacturing, powder coating and finishing, and automation services for original equipment manufacturers.
Owner and President Gary Koester acquired the company in 1992 from his father and sold the company as he and his wife, Sylvia, prepare for retirement.
“In business and outside of business, one of my goals has always been to have a lasting positive impact on people,” Gary Koester said in a news release. “I have been rewarded already by several current and prior KMI employees who expressed appreciation to me for doing just that. Going forward, I hope to spend a lot of time with Sylvia, our kids, and grandkids having fun and helping them in similar ways.”
Matthew Koester, Gary’s son, was named vice president in 2021 but will also depart the company to spend more time with his family and pursue his goal of becoming a professor, the company said.
It was not clear if any jobs at Koester Metals would be affected by the acquisition.
“The opportunity to build on the legacy that KMI has established over their long tenure in enclosure and sheet metal manufacturing,” said DMG President Michael Miller. “KMI has invested well in maintaining and improving the manufacturing technology and efficiency of the operation and that investment is going to enable DMG to continue to attract a new and diverse customer base with a focus on quality, flexibility and cost competitiveness.”
Miller leads DMG along with Mark Dalene out of Bettendorf, Iowa. KMI’s operations are expected to continue out of Fremont, about 175 miles northeast of Indianapolis, just south of the Indiana-Michigan border.