Racine-based umbrella company RC Inc. has acquired Racine-based workholding tool manufacturer Heinrich Co. for $850,000.
The 90-year-old Heinrich designs and manufactures industrial vises and workholding tools used in the metalworking industry.
RC now has five manufacturing companies under its umbrella: Racine-based metal stamping company Ace Stamping & Machine Co. Inc.; Mexico-based metal fabrication company Ace Stamping & Metal Fab Co. Inc. de Mexico; Racine-based specialty tapes manufacturer Innotec of Wisconsin Inc.; Racine-based abrasive wheel manufacturing component supplier Shakespeare Machine Stamping of Wisconsin; and Heinrich.
Both Ace Stamping companies and Shakespeare can now offer their customers and vendors workholding equipment from Heinrich for their machine shop, assembly and production needs.
“It is important to look at current capabilities and think, ‘How can we add more to better assist our customer base and potential customers?’” said James Haarsma, vice president at RC Inc.
RC now has a total of 125 employees, including Heinrich’s 10 employees. They all remained onboard, and the company will continue operating at its current location under its brand, Haarsma said.
“Our goal is to grow the company here in Racine and continue to offer their strong line of products and get behind it with our brand name in marketing it,” Haarsma said.
The transaction is highly complementary to RC’s existing brands, he said.
“All of our companies are technically job shops and this will be our first company that offers their own products,” Haarsma said.
“With a diverse product line of workholding equipment that is globally recognized for quality, Heinrich is well positioned to grow under RC Inc.,” said Ronald Haarsma, president of RC.