Harvey Performance Company (“Harvey Performance” or the
“company”), a leading provider of specialized cutting tools for
precision machining applications, today announced the acquisition
of ATA. Harvey Performance serves the market through
industry-leading brands Harvey Tool, Helical Solutions, Micro 100,
Titan USA, CoreHog, and Valor Holemaking. ATA is an Ireland-based
precision engineering multinational and the parent company of the
Karnasch, SGSPRO, ATA Tools, Van Hoorn Carbide, Industrial Tooling
Corporation (“ITC”), and Garryson brands.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240715286290/en/
“We couldn’t be more excited about welcoming ATA to the Harvey
Performance family,” said Brian Lavelle, Chief Executive Officer of
Harvey Performance Company. “This acquisition represents a
milestone in the proud history of the company and further
establishes our integrated, international business comprised of
distinctive brands and product lines.”
Since its inception as a family business in 1963, ATA has
remained steadfast in its dedication to manufacturing, supplying,
and distributing tools of exceptional quality. Today, it boasts a
product offering exceeding 25,000 precision industrial cutting
tools which it supplies to leading manufacturing industries,
including aerospace, power generation, electronics, and more. ATA
–which is headquartered in Ireland and has additional operating
locations in the United Kingdom, United States, Germany, The
Netherlands, and Switzerland – engineers, manufactures, and
distributes its products globally from its seven manufacturing
facilities, worldwide.
“We were immediately impressed by ATA, its global team and
tremendous collection of brands,” Lavelle said. “Like all Harvey
Performance brands, ATA brands have an established reputation for
providing outstanding customer service and a dedication to
manufacturing the industry’s highest quality products.”
Harvey Performance and ATA are both established leaders in their
respective geographies, and the acquisition is expected to create a
powerful combination across North America and Europe. The
acquisition will bring an outstanding international platform on
which Harvey Performance can continue to grow and expand. The ATA
management team will continue to drive business for the company
outside of the US.
“This acquisition presents great potential for Harvey
Performance,” said Harvey Performance Company Senior Vice President
of Sales Jerry Gleisner. “It provides Harvey Performance’s North
American customers with exposure to some of the best industrial
cutting tools that Europe has to offer.”
Peter Cosgrove, CEO of ATA, said, "ATA is delighted to join
Harvey Performance Company, with whom we share a unified global
vision for the future. We’re focused on expanding Harvey
Performance's brands across Europe and beyond while introducing
ATA's leading brands to Harvey Performance’s customers. I am
honoured to join the Harvey Performance board. Our management team
is looking forward to collaborating with our new colleagues, and
our primary focus remains on driving business growth globally.”
“We are excited for the many growth opportunities enabled by the
combination of Harvey Performance and ATA’s highly complementary
offerings and talented leadership teams,” said Ted Rainaud,
Managing Director, Berkshire Partners. “This acquisition represents
a significant expansion of Harvey Performance’s product offering
and geographic presence. We look forward to supporting the
continued growth and expansion of the combined business.”
ATA’s investment partners Development Capital and the Ireland
Strategic Investment Fund, who invested in 2017 and 2019
respectively, will exit as a result of the transaction.
Andrew Bourg, Co-founder and Director of Development Capital
said, “We are delighted to see ATA attract a company the caliber of
Harvey Performance, reflecting the success of the vision for the
sector by the ATA management team. During the investment period we
have been delighted to help ATA scale significantly and develop
into an international leader in the cutting tools industry.”
Brian O’Connor, Ireland Strategic Investment Fund said, “ISIF’s
investment in ATA is a clear example of its double bottom line
mandate in action, investing on a commercial basis to support the
scaling of an Irish indigenous business globally, and so supporting
economic activity and the creation of high value employment in
Ireland. Today’s announcement reflects a strong performance by the
ATA team, a positive outcome for the company and a strong
investment return for ISIF.”
Piper Sandler acted as exclusive financial advisor to Harvey
Performance Company and Berkshire Partners on the acquisition of
ATA. Houlihan Lokey acted as exclusive financial advisor to
ATA.
About Harvey Performance Company
Harvey Performance Company strives to offer unique and
innovative products to solve the industries’ most challenging
machining requirements. Its distinct brands, Harvey Tool, Helical
Solutions, Micro 100, Titan USA, CoreHog, and Valor Holemaking
serve specialty needs and markets with a shared commitment to
delivering high quality products and superior service. The brands
offer a broad range of products and services that help support
machinists, engineers, and CNC programmers while giving their shops
a competitive advantage. Harvey Performance Company has a proud
history of doing business the right way – offering fast, friendly
service; providing comprehensive product support; and treating
customers, suppliers, and shareholders in a way that builds
strategic, strong, and enduring relationships. For more
information, visit www.harveyperformance.com.
About ATA
ATA is an Irish headquartered manufacturer and supplier of
precision cutting tools for industrial leaders around the globe.
ATA serves over 7,500 customers in 90 countries. ATA was acquired
in 2008 by Peter Cosgrove (CEO) and equity investors. Today the
business has operating facilities located across Ireland, Germany,
Switzerland, the UK, the Netherlands, and the US, and employs close
to 500 people. Its leading brands Karnasch, SGSPRO, ATA Tools, Van
Hoorn Carbide, and ITC and Garryson, are recognized as industry
leaders throughout Europe. For more information, visit
www.atagroup.com.
About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector
specialist investor in private and public equity. The firm’s
private equity team invests in well-positioned, growing companies
across services & industrials, technology & communications,
consumer, and healthcare. Since inception, Berkshire Partners has
made more than 150 private equity investments and has a strong
history of collaborating with management teams to grow the
companies in which it invests. The firm's public equity group,
Stockbridge, founded in 2007, manages a concentrated portfolio
seeking attractive long-term investments. The firm’s Stockbridge
and Private Equity teams frequently collaborate and leverage their
collective industry expertise across sectors. For additional
information, visit www.berkshirepartners.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240715286290/en/
Garth Ely Senior Vice President – Marketing & Business
Development +1-844-393-8665 gely@harveyperformance.com Alison Mills
ATA Media Relations +353 86 851 2890 ali@alisonmills.ie Greg
Winter, Berkshire Partners +1-617-316-6260
gwinter@berkshirepartners.com