Tennessee-based growth equity firm Sixeight announced last week it had acquired computer numerical control fabricator US Machine & Tool, according to a news release.
Sixeight, based in Knoxville, said it acquired US Machine & Tool because of its revenue and profit potential. The Murfreesboro-based machining and fabrication company has been in business for more than three decades, according to the news release.
US Machine & Tool offers services that include CNC milling and lathe work, coordinate measuring machine inspections, wire EDM, and OD and surface grinding. The company also builds fixtures, production jigs and tooling for other manufacturing companies, according to the news release.
“We are extremely excited about the opportunity for growth and regional impact with USM&T,” Sixeight co-founder and Chief Operating Officer David Gooch said in a statement. “We acquired a stellar team of machinists and support staff and are excited to grow the business with them while serving our clients.”
In addition to US Machine & Tool’s financial potential, Sixeight said it sought the acquisition because of the manufacturer’s strategic regional placement and its potential to “disrupt their industry,” according to the news release.