Shawano, Wisconsin-based contract manufacturer JR Machine announced that it has acquired ETW Inc., a Waukesha-based company specializing in 5-axis CNC machining, custom tooling and engineering services. Originally known as Enco Tool Works, ETW was founded by Edwin Held, Jr. in 1945 in a Waukesha garage. It evolved from a simple cutting tool manufacturing business to
Shawano, Wisconsin-based contract manufacturer JR Machine announced that it has acquired ETW Inc., a Waukesha-based company specializing in 5-axis CNC machining, custom tooling and engineering services.
Originally known as Enco Tool Works, ETW was founded by Edwin Held, Jr. in 1945 in a Waukesha garage. It evolved from a simple cutting tool manufacturing business to a 5-axis CNC machining business.
JR Machine’s acquisition of ETW is backed by Green Bay-based Schneider Resources Holding, a private investment firm. Founded in 2006, Schneider Resources Holding provides financial resources to help privately-owned businesses in northeast Wisconsin grow.
ETW will continue to operate in Waukesha under its current name as a sister company to JR Machine within the Schneider Resources portfolio.
All of ETW’s employees will be retained and the existing management team will remain in place, JR Machine said in a news release.
“We are excited to bring ETW onto the JR Machine precision machining team,” said Paul Knoll, chief executive officer of JR Machine. “Adding ETW’s highly skilled team helps meet the growing needs of our customers, especially those in the space and defense industries. The highly specialized 5-axis milling work that ETW can do will be a great new service in our portfolio.”
JR Machine and Schneider Resources recently made a $1 million investment in a new 5-axis milling center, which they say will boost ETW’s milling capabilities and operation efficiency.
“Our family is excited to join with JR Machine as we work to grow and meet our customers’ needs,” said Wayne Lehman Jr., vice president of manufacturing and engineering at ETW. “Adding the strength of Schneider Resources Holding will allow us to invest and grow to meet that demand. Partnered with JR Machine and supported by SRH, we see incredible potential for our future.”
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