ARCH Cutting Tools Corp. in Bloomfield Hills, an ARCH Global Holdings company, has announced the acquisition of Greene Tool Systems Inc., a tool and die business known for its technological innovation, prototyping, and quality control. Terms of the deal were not disclosed.
“Solving customers’ most challenging cutting tool applications and dedication to quality are the cornerstones of Greene Tool’s culture,” says Jeff Cederstrom, division president of ARCH Cutting Tools. “Tom Greene has built a strong business designing and manufacturing highly innovative custom tooling and left a legacy of satisfied customers. The ARCH group is looking forward to sharing and learning from the talented team at Greene Tool.”
Dayton, Ohio-based Greene was established in 1986 and offers a variety of services, including production design and support services, process development, troubleshooting, remanufacturing, turnkey tooling, prototyping, live tool development, and software that ensures tools are accurate to customer specifications and easily replicated.
“It was time for me to retire and my employees agreed. Joining the ARCH family made sense because their broad product offerings complement our expertise in engineered cutting tools. They offer national sales coverage with a skilled sales force,” says Tom Greene, president of Greene Tool Systems.
“The more people from ARCH we met, the more I was convinced that this was a good move for both companies. They match our culture, business philosophy and people-centric way of doing business. My goal was to retire without my employees and their families having to worry about their future security. Everyone at ARCH understood my goal and far exceeded it. The next design I am working on is a tool to remove sand from between my toes.”
ARCH is a leader in high-performance solid round and indexable cutting tools. It has manufacturing facilities located throughout the U.S. The company’s engineering and machining facilities are dedicated to the betterment of precision machined parts, products, tools, and related supply chain processes.
“We are extremely excited to announce the acquisition of Greene Tool and welcome all the Greene colleagues and customers to the ARCH family of companies,” says Jack Serda, CFO of ARCH. “Having developed a relationship with Tom over the past several years, it became very evident there was strong cultural alignment between our organizations. The acquisition of Greene Tool is an ideal fit for ARCH Cutting Tools as their technical capabilities further expand our national customs and specials business.”