Warren, Mich.-based Production Tool Supply Co. has acquired Menomonee Falls-based KM Tool Supply Ltd.
“We are going to still be at this location, same name, just owned by Production Tool Supply,” said Bobbie Bartz, KM Tool accounting clerk.
Mike Haessly was recently named president of KM after serving as vice president for 10 years. Wayne Riekkoff, the previous president, sold the company.
“The feel of it is still local,” Haessly said. “We will have a lot of resources behind us.”
He plans to add new products and employees. The company currently has 30 employees, all of whom will remain in the transaction.
Production Tool Supply subsidiary KM Tool Real Estate LLC recently acquired the KM Tool Supply property at N89 W14452 Patrita Drive from Tool Properties LLC for $3 million, according to state records. The 35,000-square-foot building, constructed in 1998, sits on a 2.8-acre site, according to village records.
KM Tool Supply is a cutting tool specialty company. Production Tool Supply is a supplier of industrial tools.
