Stone Fox Ventures Announces Acquisition of the Assets of Lagis CorpConical Tool Company acquires local resharpening and custom tool manufacturer
Grand Rapids, March 21, 2014: Conical Tool Company, a portfolio company of Stone Fox Ventures, has acquired the assets of Lagis Corp d/b/a ATCO, Inc. ATCO has been a leading resharpening service and custom cutting tool manufacturer in Ft. Wayne, Indiana since 1973.
The assets of ATCO will be moved to Conical Tool Company’s Grand Rapids, MI facility and used to expand the product offerings, capacity and capabilities of the organization. A revenue sharing agreement has been reached with the shareholders of Lagis Corp to continue supporting the existing customers in the Ft. Wayne Metropolitan Area.
This asset consolidation will add to the continuing operational improvements of Conical Tool Company and support the expansion of new high performance and specialty cutting tools.
Conical Tool Company, based in Grand Rapids, Michigan, manufactures an innovative line of high performance, specialty, custom and precision end mills and cutting tools to support the manufacturing sector through many industries including: aerospace, agriculture, automotive, casting & foundries, defense, electronics, energy, furniture, medical, metalworking and plastics / composites.
Stone Fox Ventures is a private equity investment firm that acquires, structures, manages and grows middle-market manufacturing, distribution and services companies with industrial and business customers. For more information, please visit http://stonefoxventures.com. For information on Conical Tool Company, please visit http://conicalendmills.com.