York-based Graham Engineering Co. has acquired Kennedy Tool & Die Inc. of Birdsboro, Berks County.
In a statement on its website, Graham Engineering said acquiring Kennedy, a leading precision manufacturer of molds and tooling used in blow molding, rim molding, and thermoforming, will accelerate GEC’s ability to support customers throughout the life of their extrusion equipment.
“There are good mold and tooling suppliers and good extrusion machinery companies. But, we believe few effectively bridge the process expertise between extrusion and mold design to create high-quality finished products,” said David Schroeder, president and CEO of GEC. “This transaction represents GEC’s commitment to anticipate and meet customers’ changing needs, giving customers the ‘one-stop shop’ and partner to ensure performance over the life of their equipment.”
He went on to say, “Putting together the right team and capabilities is critical. Kennedy brings a deep understanding of precision molds and tooling, and we’re thrilled to have Steve, Scott, and their team join us. Bringing two industry leaders together will significantly advance our ability to serve customers.”
“Kennedy is excited to join the Graham team,” said Steve Kennedy, co-owner. His partner, Scott Kroll added that the deal will provide value to customers.
As a brand of GEC, Kennedy will continue to operate in Birdsboro and will provide key contributions to GEC’s aftermarket business, with Kennedy as director of operations and Kroll as director of business development.
The terms of the transaction were not disclosed.