Written by TRISTAN NAVERA and originally published in the Dayton Business Journal. Visit the original article at http://www.bizjournals.com/dayton/news/2016/08/10/miamisburg-company-acquires-englewood-shop.html.
August 10, 2016. A Miamisburg company has acquired a tool and die shop in Englewood.
Advanced Industrial Measurement Systems, or AIMS Metrology, which manufactures coordinate measuring machines, has bought Englewood-based CMI Technologies.
Terms of the deal, which was finalized Aug. 5, were not disclosed, nor was the employee count at CMI Technologies.
"We've been looking for the right tool and die shop for a couple of years," said AIMS President Dave Delph in a statement. "We found out that CMI was for sale and the company's people, expertise and equipment sold us on them."
AIMS said the purchase will help it better control quality and delivery timeframes for some of the key parts it uses in its business. The addition also will help it develop and produce air and electronic gauges. These come with a variety of possible end uses.
"Aside from quality improvements, we'll be able to gain greater effeciencies in operational costs," Delph said in the statement. "Bringing this work in-house also means we can deliver our products when we say we will."
AIMS, founded in 2009, has launched a line of coordinate measuring machines for lab and shop floor uses - a demand that has been growing amid effeciency-driven manufacturing businesses that rely more on automation.
The company recently put $750,000 toward a renovation and expansion of its Kohnle Drive facility to add new tooling. The project, which was completed this spring, is expected to grow its workforce from 18 employees to 40 in coming years.
AIMS, which posted $3.5 million in revenue in 2014, wants to hit the $10 million mark with new in-house products.