Walter Surface Technologies, Montreal, Quebec, on Tuesday announced the acquisition of two companies: Drillco, a Baton Rouge, Louisiana-based maker of cutting tools, and Triumph Twist Drill, a Chisolm, Minnesota-based manufacturer of tooling and drilling solutions. Financial terms of the deals weren’t disclosed.
“We are very excited to welcome both Drillco and Triumph to the Walter family,” said Marc-André Aubé, CEO of Walter. “Drillco brings a solid distribution network and product expertise that will allow us to continue our mission to help our customers work better. This is complemented by Triumph’s state-of-the-art manufacturing facility of quality cutting tools. Walter is always looking to provide solutions that answer the needs and challenges facing end-users in the metalworking industry. Now, with these two acquisitions, we can help our customers to be more productive with durable products for a broad range of applications.
“This transaction is an unequalled opportunity to build up our activities in the North American market as we continue to evaluate other growth strategies, namely through accretive acquisitions.”
Added Sandra (Missy) Woodard, CFO, Drillco: “We saw in this opportunity the perfect alignment of both products and values. We are proud to see Drillco adding its cutting tool solutions to Walter’s renowned and robust offering.”
And Scott Allison, president, Triumph Twist Drill, said: “The fit is right and we could not be more proud to be a part of the Walter team.”
Following this transaction, both Drillco and Triumph will continue to operate under their own respective brands. Walter Surface said the transaction is effective immediately, and activities for both customers and suppliers remain unchanged.
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