Applied Automation said this week it acquired precision toolmaker PTG Precision Engineers for an undisclosed amount.
Newly acquired PTG Precision Engineers will operate as a wholly owned subsidiary of Applied Automation and will operate as a division of the company, with 2 members of Applied Automation joining PTG’s management team.
“I feel sure this acquisition will be good for Applied Automation as we continue to grow. It gives us greater capability in precision engineering that can support our growth. As we’ve grown our toolmaking demands have increased. We have been finding it more and more challenging to achieve competitive costs and favourable lead times from our existing supply base of manufactured parts. This acquisition will ease this problem and at the same time it provides a strong and stable future for PTG. I’m really optimistic about the future of PTG. With the skills and capabilities that PTG possesses there’s a great opportunity to grow the business and build a reputation for providing excellent service and high-quality work and be the leading toolmaker in the South West. That’s good news for the PTG team, its suppliers and its customers.”
PTG will continue to work with its own customer base while undertaking work from Applied Automation, the companies said.