Acme United acquired Diamond Machining Technology (Vogel Capital, Inc.) for $7.0 million, a transaction completed in February 2016, structured as all cash. The deal was a Asset purchase.
Diamond Machining Technology (Vogel Capital, Inc.) operates in Sharpening / cutting tools, is based in Marlborough, Massachusetts, had revenue of about $5.4 million (2015), ~$1.0 million EBITDA. Acme United acquired the assets of Vogel Capital, Inc., doing business as Diamond Machining Technology (DMT), a Marlborough, MA maker of diamond sharpening tools for knives, scissors, chisels and other cutting tools. Founded in 1976 by aerospace engineers, DMT uses finely dispersed diamonds on its sharpener surfaces and holds over 50 patents and trademarks. It had 2015 revenues of $5.4 million and about $1.0 million of EBITDA.
Complement Acme's existing brands across the industrial, hardware, floral, food-preparation and sporting-goods markets and expand DMT's distribution.
50+ patents and trademarks; premium sharpening niche founded by aerospace engineers Distribution expansion across Acme channels Cutting-tool brands (kept in Massachusetts)
We are delighted to welcome DMT's employees into our corporate family. DMT complements Acme United's existing brands and products within the industrial, hardware, floral, food preparation and sporting goods markets. We intend to keep the DMT operation in Massachusetts, and expect to expand the business and distribution.Walter C. Johnsen, Chairman and CEO, Acme United
Advisory firms were not disclosed for this transaction.