600 Group machine tool division acquired by private equity firm

TJM Capital, a private equity investment firm focusing on lower and middle-market growth businesses, has purchased the Machine Tool Solutions Division of the UK’s 600 Group.

This acquisition includes Colchester Machine Tool Solutions, with offices in the UK, Germany, and Australia, as well as Clausing Industrial, headquartered in Michigan, US.

“The Machine Tool Solutions Division is a perfect fit with our growth strategy,” said TJM chairman Tom McDonough. “These companies supply well-known, high-quality products for metalworking applications, and give us scope to provide more solutions to our customers.”

The Machine Tool Solutions Division has a strong reputation in the market for metal turning machines. Products range from small conventional machines for education markets, CNC workshop machines and CNC production machines.

Incoming CEO, Micah Coleman, commented: “Our customers remain the group’s highest focus. The addition of this new technology continues to build on our vision to become the partner of choice for complete manufacturing solutions.”

Mr Coleman also serves as CEO of Timesavers, Midwest Automation, and Dubois Equipment Company.

The leadership teams at both Colchester Machine Tool Solutions and Clausing Industrial will remain in their current roles under new ownership.

Jonathan Wright, managing director of Colchester, and Kevin Mungovan, president of Clausing Industrial, have a combined 50 years in the machine tools industry and will continue to lead their respective companies.

Colchester Machine Tool Solutions has been trusted in the industry for over 100 years and continue to supply machine tools which are known for high quality and performance across various market sectors. Recent growth in the UK market has led to the necessary appointment of additional sales support staff.

TJM Capital
www.tjmcapitalpartners.com

Colchester Machine Tool Solutions
www.colchester.co.uk