Racine Metal-Fab, a Yorkville-based provider of sheet metal manufacturing services, has been acquired by Milwaukee-based Midwest Products & Engineering Inc..
Terms of the deal were not disclosed.
MPE is a designer and contract manufacturer for medical and technology OEMs. Racine Metal-Fab is fabricator of highly aesthetic and complex sheet metal components and sub-assemblies.
BPOC, the Chicago private equity firm that owns MPE, said that RMF’s expertise in light gauge materials, soft and hard tooling design, assembly and logistics services would help MPE expand what it can offer to medical device and technology manufacturers.
“I could not be more pleased with the strategic fit, synergy and cultural compatibility with MPE,” said Kim Nichols, chief executive officer of RMF. “My excitement resides in the continued growth of the company and what it means for everyone at RMF including our employees, customers, suppliers and community.”
BPOC noted the two companies strategic fit, synergy and cultural compatibility would allow MPE to enhance operational efficiencies, improve the total cost of owners and exceed customer expectations.
"RMF brings innovation and core competence in high cosmetic light gauge stamping and fabrication technologies that are integral to the evolving needs of our customers," said Hank Kohl, president and CEO of MPE. "RMF's business aligns with MPE as we continue to help original equipment manufacturers accelerate time to market at a lower total cost of ownership."