Investment Firm Acquires 3 Companies to Form Precision Tooling Group
Written by ABC Audio ALL RIGHTS RESERVED on January 14, 2022
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A New Jersey private investment firm announced the formation of a new manufacturing and distribution platform following its acquisition of three companies.
Closter, New Jersey-based Culper Capital Partners purchased Upstate New York-based Ring Precision Components and Ohio springs and components company Dieco after the companies were carved out by previous owner The PMT Group. Culper also added Upstate New York precision manufacturer New Vision Industries, which was acquired from majority shareholder Michael Copt.
The new companies will be combined into Culper’s first “control platform,” named the Producto Group. The Ring and New Vision operations will provide contract manufacturing and precision tooling to the medical, semiconductor, aerospace, and defense markets, while Dieco will serve as the platform’s distribution arm, providing custom springs, die springs, die sets, and accessories.
Company officials said the deals represented the first of many for both the investment firm and Producto. Copt will serve as the new group’s chief executive officer.
“Producto is well-positioned to satisfy its customers’ increased demand caused by the global supply chain crisis,” Culper Chief Investment Officer Adam Cook said in a statement. “We want our customers to rely on Producto as a value-added solutions provider where its products are bought and not sold, where partnership and value creation intersect in everything we do.”
Financial terms were not disclosed.
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