Port Washington-based Prism Manufacturing Group announced that it has entered into an agreement with GemCap Solutions to acquire the assets of West Bend-based Barton Precision Components.
GemCap recently held a public auction for the assets of Barton Precision Components. Prism Manufacturing Group submitted an asset-purchase agreement to secure their position in the bid process, and keep the company operational.
Prism Manufacturing Group is a precision machine shop which recently relocated their operations to Port Washington. The company said its board of directors, "saw tremendous strategic value in not only the equipment at Barton, but the knowledge and experience that the employees possess. The goal of the acquisition is to combine the operations at Prism Manufacturing Group’s current location in the former Simplicity Manufacturing building, to leverage efficiencies and continue to provide for growth in the future."
Prism Manufacturing Group was formed in 2009 when G & P Machine Company Inc. acquired the assets of Panda Industries Inc. The company specializes in precision screw machining focused on providing custom components, manufacturing solutions and standard inserts for multiple industries.
