March 11, 2020 - Precision Cutting Technologies Inc., Rockford, Illinois, has acquired Supermill LLC. Precision Cutting Technologies holds Alleghany Capital’s investments in the precision automated machine tool and high-performance cutting tool sectors. Headquartered in Berlin, Connecticut, Supermill is a leading manufacturer of high-performance carbide endmills.
Terry Derrico, president of Precision Cutting Technologies, commented, “We are excited to partner with Tom Hale, founder and president of Supermill, as well as his talented and experienced team of associates. The acquisition of Supermill enhances Precision Cutting Technologies’ portfolio of cutting consumables and strengthens its position in the Northeastern United States. As in our past acquisitions and reflective of our strategic partnership approach, Tom will continue to lead the company post-transaction and Supermill’s day-to-day operations will not be impacted. However, we believe that Supermill will now be able to take advantage of the infrastructure and national sales reach of the Precision Cutting Technologies platform.”
Hale added, “I founded Supermill in 1990 with the goal of manufacturing the highest quality endmills for the metalworking industry and providing our customers with unmatched performance and tool life. After 30 years of growth, I am happy to have found a long-term home for the company and our loyal employees. I look forward to what we will build together with the team at Precision Cutting Technologies in the coming years, staying true to Supermill’s reputation for reliability, innovation and customer service.”
Rob Hulick, principal of Alleghany Capital, commented, “We are pleased to welcome Supermill to the Alleghany Capital family of companies and are excited by the opportunities that should result as Supermill is able to leverage the broader reach and capabilities of the Precision Cutting Technologies platform, as well as Alleghany Capital’s differentiated, long-term capital model. We continue to believe in the secular trends driving the industrial technology, factory automation and advanced materials sectors and look forward to supporting Precision Cutting Technologies and Supermill as they provide a truly differentiated service offering to their customers.”
Olshan Frome Wolosky LLP acted as legal counsel to Alleghany Capital. Brown Paindiris & Scott LLP acted as legal counsel to Supermill.
Related Glossary Terms
- metalworking
metalworking
Any manufacturing process in which metal is processed or machined such that the workpiece is given a new shape. Broadly defined, the term includes processes such as design and layout, heat-treating, material handling and inspection.
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