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
About InCompass™
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.
Bridgeportmachinetools.com
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SOURCE InCompass