TJM Capital Partners (TJM) Has Purchased The Machine Tool Solutions Division Of The UK's 600 Group
Chicago, IL /PRNewswire/ - TJM Capital, a private equity investment firm focusing on lower and middle-market growth businesses has purchased the Machine Tool Solutions Division of the UK's 600 Group. This acquisition includes Colchester Machine Tool Solutions, with offices in the UK, Germany, and Australia, and Clausing Industrial, Inc., headquartered in Michigan. "The Machine Tool Solutions Division is a perfect fit with our growth strategy," according to TJM Chairman Tom McDonough. "These companies supply well-known, high-quality products for metalworking applications, and give us scope to provide more solutions to our customers," said McDonough.
The Machine Tool Solutions Division has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines. Incoming CEO Micah Coleman stated, "Our customers remain the Group's highest focus. The addition of this new technology continues to build on our vision to become the partner of choice for complete manufacturing solutions." Mr. Coleman also serves as CEO of Timesavers LLC, Midwest Automation, and Dubois Equipment Company.
The strong leadership teams at both Colchester Machine Tool Solutions & Clausing Industrial will remain in their current roles under new ownership. Jonathan Wright, Managing Director of Colchester, and Kevin Mungovan, President of Clausing Industrial, have a combined 50 years in the Machine Tools industry and will continue to lead their respective companies.
The acquisition was completed on April 8, 2022.
About TJM Capital Partners
Founded in 2008, TJM is a private investment firm that invests in established middle and lower middle-market businesses looking to substantially grow and realize shareholder value. TJM has a fully supported management team backed by a select group of committed capital sources – including family offices, high net worth individuals, and a diverse set of first-generation (G1) investors – as a different type of private investment firm. www.tjmcapitalpartners.com
About Timesavers LLC
For seventy-five years, Timesavers has been producing widebelt abrasive finishing machines for surfacing wood, metal, plastics and a wide range of other materials. Timesavers is a pioneer in sanding technology for the woodworking and machine tool industries and has the largest worldwide installed base of machines. Superior product performance, exceptional customer service, and unequalled technical field support service makes Timesavers the market leader.
Source: Timesavers, LLCCopyright 2022 PR Newswire. All Rights Reserved