Dynacast (Charlotte, North Carolina) announced it has signed a definitive share purchase agreement to acquire Signicast (Hartford, Wisconsin).
The move is expected to add more than 800 Signicast employees to Dynacast, which will now employ 9,500 at 27 spots. Signicast, however, will remain separate and business will continue as usual for its customers.
Signicast is an automated and vertically integrated manufacturer of precision investment cast parts.
In a news release, Dynacast said “The merger will allow Dynacast to continue growing both businesses, with intentions to globalize the Signicast division in the coming years.” It continued that the “acquisition is the next step of Dynacast's strategic vision toward becoming a $1 billion-plus organization over the next two to three years.”
“Given Signicast's complementary manufacturing technology, this acquisition will expand our existing customer offerings and accelerate our strategic vision for growth,” said Simon Newman, chairman and CEO, Dynacast. “I look forward to working closely with the Signicast team to ensure that the combined company continues to provide our customers with unparalleled technology, quality, and service.”
This acquisition is the latest for Dynacast, which in January announced it had purchased Taurus ’80 (Grosso, Italy), a zinc diecaster with locations in Rockford, Illinois, and Bizerte, Tunisia. That addition brought 60 diecasting machines into Dynacast.
“We believe the addition of Taurus ’80 is the right next step for the growth of our company and is a testament to the passion and dedication by which the Dynacast team has delivered on our mission to provide the highest quality precision components to our customers around the world,” Newman said when that transaction was announced. “This acquisition will deliver significant and immediate value to our customers and further our efforts in innovation to offer our customers the best business solutions.”