Mooresville, NC., July 31, 2019 – Linx Partners, LLC is pleased to announce that its portfolio company, Carolina Precision Technologies (“CPT”), an industry-leading precision contract manufacturer to the Life Sciences and Aerospace industries, acquired Renchel Tool Inc., a niche contract manufacturer with focus on complex orthopedic instruments and implants, as well as aerospace and petrochemical applications. Headquartered in Putnam, CT, Renchel Tool’s products predominantly cover a broad range of precision machined instruments for the medical device surgical market, including orthopedic instruments used during hip, knee, spine, and extremities surgeries.
“Ron and Brenda Williams and their management team have done an outstanding job growing Renchel into one of the most respected OEM suppliers in the orthopedic space. Their reputation reflects the consistent and sustainable performance delivering high-quality products with exceptional on-time delivery” stated Christopher M. Cashman, Chief Executive Officer and President of CPT. “This transaction is a combination of highly compatible cultures and complementary capabilities, expertise, and industry synergies. We are very excited that the Renchel team is joining Carolina Precision.”
Ron Williams, President of Renchel Tool, commented “We are very pleased that our Company has found a terrific partner that will bring expanded capital resources and further manufacturing and industry expertise that will allow Renchel to continue to expand its capacity and customer base. I am thankful for what each of our employees has contributed over the years and look forward to seeing the future positive developments.”
Working with the Linx and CPT team on this acquisition is Fifth Third Bank who provided the senior financing.
About Carolina Precision Technologies
CPT is a world-class contract manufacturer of complex, high precision, and tight tolerance products and services to the Life Science and Aerospace industries. CPT has manufacturing plants in Mooresville, NC; Warminster, PA; and Putnam, CT and has a history of more than two decades delivering high-precision, high-complexity components nationwide. Our experienced engineers, CNC machinists, and dedicated quality control personnel scrutinize every phase of development – from prototype to production – and use only the best technology available.
For more information on Carolina Precision Technologies, visit www.carolinaprecision.com.
For more information on Renchel Tool, Inc, visit www.rencheltoolinc.com.