Davis-Standard buys Gloucester Engineering
For the North American extrusion industry, this is a big one: Davis-Standard LLC has purchased Gloucester Engineering Co.
In a news release, Pawcatuck, Conn.-based Davis-Standard said the acquisition adds “experienced design and process engineering capabilities, a large installed base and greater aftermarket capabilities worldwide.”
“We’re excited about combining the strengths and market reach of Davis-Standard and Gloucester Engineering,” said Jim Murphy, Davis-Standard’s president and CEO. “Gloucester has always been a strong company, so bringing its technology and engineering expertise to our operation is significant for our combined customer base. It also supports our ongoing goal of continuing to provide equipment and service that improves process efficiency and profitability.”
Gloucester Engineering is headquartered in Gloucester, Mass.
The news release also said that Ernie Plasse, Davis-Standard’s executive vice president, will lead Gloucester Engineering’s integration into Davis-Standard.
The terms of the deal have not been disclosed.
In addition to being two major U.S. machinery manufacturers, Davis-Standard and Gloucester Engineering are also similar in that both companies have been owned by private equity firms. Davis-Standard is buying Gloucester from Blue Wolf Capital Partners LLC. And Davis-Standard is itself owned by private equity firm Oncap, which is part of Toronto-based Onex Corp.