PSM Industries, Inc. based in Los Angeles, CA, USA has announced the purchase of 100% of the shares of PM Engineered Solutions, Inc. (PMES) of Watertown, CT, USA from Longroad Capital Partners, LLC.
PMES (formerly Engineered Sintering and Plastics, Inc.) was founded by the Alves family in 1953 and was sold to Longroad Capital in 2008. The company produces high precision PM and plastic components for the power tool, industrial controls, business machine, and lawn and garden industries. PMES currently employs 79 people in a 100,000 square foot facility.
PSM has purchased the land and building in Watertown and intends to grow the business at the current site as its 7th operating PM division.
Commenting on the acquisition, PSM Industries President Craig C. Paullin stated “PMES is a business that compliments both the existing customer base and the array of full density technologies that already exists within our company. The PM forging that we will now offer through our PMES Division gives us our 5th fully-dense PM technology to offer our customers for their most challenging applications. We offer fully-dense metal injection moulded stainless and alloy steels, hot isostatically pressed titanium carbide metal matrix composite materials, a wide array of tungsten carbide wear materials, and many fine grained liquid-phase sintered high speed steels at our various plants.”
“PMES and its PM forging capability adds an additional tool to PSM’s arsenal of technical knowledge. We look forward to sharing these technologies with our customer base that now numbers well over 1000 OEM’s worldwide,” added Paullin.
Posted by: Paul Whittaker, Editor ipmd.net, [email protected]