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MinebeaMitsumi, the Japanese parent company of New Hampshire Ball Bearings (NHBB), acquired C&A Tool Engineering to expand its presence in medical, additive manufacturing, precision machining and ball bearings. Terms were not disclosed.
MinebeaMitsumi will own 51% of C&A Tool and the Development Bank of Japan will own 49%. C&A Tool will operate as a NHBB/myonic business unit.
C&A Tool serves several industries, from medical to aerospace, alternative energy and transportation. As an implant and instrument contract manufacturer for spine, knee and hip applications, C&A Tool works with customers from design and engineering through manufacturing. The company’s early adoption of additive manufacturing, specifically direct laser sintering using EOS machines, gave them a competitive advantage in orthopaedics and made it an attractive M&A target for MinebeaMitsumi.
C&A Tool, which has 580 employees and three Indiana facilities, will expand NHBB/myonic’s business unit to five manufacturing locations in the U.S., two in Germany and one in Czech Republic.
MinebeaMitusmi seeks to surpass ¥1 trillion in net sales by the close of its fiscal year in March 2021. The company ended 2017 with ¥638.9 billion or ~$5.8 billion.
The acquisition furthers our predictions that ex-U.S. companies will purchase suppliers in order to enter or expand in the U.S. market. Recent examples in the last year include A-Kit’s purchase of Knight Mechanical Testing and Elos Medtech’s purchase of Onyx Medical.
Source: MinebeaMitsumi
