GREEN BAY, Wis.—Rol-Tec Inc. has significantly expanded its capabilities and product portfolio with the acquisition of high precision grinder Axis Machine Co.
Axis Machine, which is based in a 20,000-sq.-ft. facility in Green Bay just one block away from Rol-Tec's headquarters and plant, will operate as a division of Rol-Tec out of its present factory.
Rol-Tec produces rubber and cast urethane roller coverings, tungsten carbide roller coatings, urethane molded parts and laser engraved rubber coverings, and is a provider of roller machining services. The deal extends its offerings to include precision-grinded chrome, tungsten and metal rollers with the acquisition, said Matt Umentum, Rol-Tec president and CEO.
He added that the equipment needed "to do this type of work is large and very expensive. We will now also have expanded surface grinding capabilities."
Financial details of the transaction, which closed May 1, were not disclosed.
Five of the six Axis Machine employees have been retained; the sixth has reached retirement age and is moving on from the company. Umentum said he anticipates up to 10 additional jobs will be added within the next year.
"We will retain the office staff so orders continue to flow smoothly," he said. "The previous executive team will not be retained. We will be bringing in Rol-Tec management to 'cross pollinate' our systems and culture to Axis Machine along with our sales and customer service teams."
Umentum will serve as president and CEO of both operations.
He said the acquisition allows Rol-Tec, which operates out of a 70,000-sq.-ft. plant in Green Bay and employs 70, to be a single source provider for both rubber covered and precision ground rollers, both of which are used in many industrial applications.
"One of the major assets that Rol-Tec will bring to Axis Machine is an experienced team of sales and customer service advisers," Umentum said. "Our team is proficient in identifying those customers and industries that can benefit from the umbrella of unique services Rol-Tec offers.
"In the past, we have identified industries such as flexographic printing or blown film, and made targeted efforts to acquire equipment and experienced people to provide complete roller services and molded parts to these specific industries. The Axis Machine acquisition helps us complete our offerings with skilled metal grinding craftsmen to many targeted industries deeper in the supply chain."