Allied Machine & Engineering Corp. aqcquires the majority of shares of Wohlhaupter GmbH
The US based Allied Machine & Engineering Corp. acquires the majority of the shares of Wohlhaupter GmbH, a manufacturer of precision boring tools located near Stuttgart in the South of Germany. At the same time Frank-M. Wohlhaupter increases his stocks, remains on board as a managing partner and will be leading the company into the future.
The acquisition will result in a highly coveted partner along the complete process chain in the field of professional Holemaking Solutions. In the course of succession and to guarantee a successful upgrowth and internationalization of Wohlhaupter GmbH the shareholders of the long-established precision cutting tool company have decided on selling the majority of their shares to a strategic partner. This capital infusion is the essential requirement for a successful transition of the growth- and investment plan as well as to secure the future of / or even expand the plant.
It is the common goal of both technology leaders, Allied as the leader in the field of drilling and Wohlhaupter in the domain of precision boring to benefit from the diversification of each others product range with the products as well as from the geographic coverage in regard of the sales force of the other partner. The so-called strategic fit of both companies is of remarkable excellence and a growth impulse is highly expected.
The family owned business Allied is well-known for its high-tech "Holemaking Solutions" all over the world. Main focus of its activities has been the US and Asian market. Wohlhaupter, manufacturer of modular system tools for boring operations has been focusing its activities on the German / European market. Together they will merge to the global Holemaking Specialist the industry has been looking for.
The philosophy of both companies is based on the same core values with plenty of similarities, which will be driven to the future by the owners Mike and Steve Stokey as well as their father Bill and Frank-M. Wohlhaupter on the German part of the business.
For the benefit of the customer, this will be the birth of a highly reliable technology partner which focuses on "Holemaking Solutions" only - from drilling, pre- and finish boring with or without digital readout up to reaming and roller burnishing.