Bloomington Manufacturer Acquired
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA Bloomington-based precision manufacturing company is under new ownership. Specialty CNC has been acquired by Consolidated Machine & Tool Holdings in Florida, though financial terms of the deal were not disclosed.
Specialty CNC provides a variety of precision manufacturing, welding and fabrication, and priming and painting services for the aerospace, defense, industrial, medical, heavy equipment, and semiconductor industries, according to its website.
CMT says the acquisition brings it additional manufacturing capacity, while also providing Specialty CNC access to capital, continued growth support, and enhanced benefits for employees.
“We are really excited to partner with the talented folks at Specialty and look forward to supporting their continued growth,” Elie Azar, chief executive officer of CMT parent White Wolf Capital, said in a news release. “With the addition of Specialty to the CMT family, CMT has closed on five add-on acquisitions this year alone.”
CMT did not specify whether any jobs would be affected by the deal.