Wisconsin Precision Casting Corp. of East Troy announced on Thursday the acquisition of Northern Precision Casting Corp. in Lake Geneva. The closing date is set for Feb. 28.
Northern Precision will retain its name and become a division of Wisconsin Precision. The two plants are located within 19 miles of each other with over 160,000 square feet of manufacturing capability.
“Wisconsin Precision Casting is not only excited about the acquisition of Northern Precision Casting from a capacity perspective and we are proud that the Giovannetti family has worked very closely with us on bringing this to fruition,” said Cliff Fischer, co- owner and vice president of operations at Wisconsin Precision. “With the strengths and talents that each operation brings to the table, we feel that there will be exciting possibilities for both our customers and employees. The added capacity will allow Wisconsin Precision Casting to continue to grow and to service our customers by delivering a quality product, on time, at a competitive price.”
The acquisition will bring together the best practices, expertise and technology of each company along with one of the broadest alloy selections of ferrous and non-ferrous alloys in the industry to better serve their customers and the growing needs of the marketplace, the companies said.
The addition of Northern Precision is also said to help expand Wisconsin Precision’s market opportunities and accelerate its ability to serve a growing industrial market.
Gary Giovannetti, chairman/ director of marketing at Northern Precision said, “We see this transaction as a tremendous opportunity to synergistically integrate two Wisconsin family-held businesses with a combined 100-plus years foundry knowledge and expertise into one larger and stronger company with sufficient capacity and product range to satisfy the wants and needs of our growing customers.”
Northern Precision has been servicing the industrial marketplace since 1949, focusing on machinery and construction equipment, industrial tools and fluid handling systems.
Wisconsin Precision, which celebrated its 50th anniversary in 2014, serves primarily manufacturers of food processing equipment, health care equipment and the OEM marketplace.
Fischer could not be reached for further details about the transaction.
