Cision PR Newswire
InCompass™ Expands Industrial Machinery Portfolio with Acquisition of Bridgeport Machine Tool Company
News provided byInCompass
Sep 18, 2023, 7:37 PM ET
MINNEAPOLIS, Sept. 18, 2023 /PRNewswire/ -- InCompass™, a platform company of TJM Capital Partners, is pleased to announce it has reached a definitive agreement to acquire another prominent player in the machine tool industry, Bridgeport Machine Tool Company.
As a prominent manufacturer, with a portfolio of world-class brands in the industrial machinery sector, InCompass™ has strategically expanded its portfolio by incorporating Bridgeport Machine Tool Company. Bridgeport is renowned for vertical milling machinery, providing customers with flexibility, speed, quality, and value. According to Chairman Tom McDonough, "The inclusion of Bridgeport aligns seamlessly with our vision for growth. Bridgeport offers outstanding vertical milling solutions, opening up new avenues for us to cater to our valued customers." The financial terms of the transaction remain confidential.
This strategic move to acquire Bridgeport enhances the InCompass™ global presence and bolsters its manufacturing capabilities, enabling the company to provide comprehensive solutions to a diverse range of customers, including job shops, OEMs & any other end-user looking to maximize productivity. InCompass™ CEO Micah Coleman emphasized, "At InCompass™, our paramount objective is to continually expand our array of solutions to support our clients' growth. The integration of Bridgeport technology brings us closer to becoming the preferred partner for complete manufacturing solutions."
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
With locations throughout the world, InCompass™ provides customers with the time-saving solutions and industry leading expertise they need to grow their business by bringing together industrial manufacturers offering innovative products and systems. InCompass™ brands have served the market for over 500 years combined and have individually earned reputations for excellence. These industry leading brands include Timesavers, Dubois Equipment Company, Randbright, Bourn & Koch, Mollart Machinery, Clausing Industrial, Pratt Burnerd, and UK-based Colchester Machine Tool Solutions.
InCompass™ is comprised of 5 divisions: Wood Processing, Metal Abrasive Finishing, Machine Tools, Coatings, and Automation. Not just machinery, InCompass™ manufactures growth solutions. www.manufacturedgrowthsolutions.com.
About Bridgeport Machine Tool Company
Bridgeport Machine Tool Company is a leader in machine tool solutions for the global manufacturing community. Specializing in vertical milling equipment, the company possesses the ability to take on the most challenging manufacturing applications. Bridgeport offers a comprehensive range of services, including repair parts, field service, retrofit, and rebuild. Their legacy continues to live on in the form of various milling machines still in use today, as well as through the influence of its design principles on the machine tool industry.
View original content to download multimedia:https://www.prnewswire.com/news-releases/incompass-expands-industrial-machinery-portfolio-with-acquisition-of-bridgeport-machine-tool-company-301931223.html
NOTE: This content is not written by or endorsed by "KLAS", its advertisers, or Nexstar Media Inc.