Marlborough tool maker acquired for $7M
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Mark and Stacey Brandon have sold their business Diamond Machining Technology for $7 million.
A Marlborough company specializing in blade sharpening tools has been purchased by a Connecticut company for $7 million in cash.
The assets of Vogel Capital, Inc., doing business as Diamond Machining Technology (DMT), are expected to be transferred this year to Acme United Corporation. DMT has been in operation since 1976, using finely dispersed diamonds on the surfaces of its sharpeners and holding over 50 patents and trademarks.
Walter C. Johnsen, Chairman and CEO of Acme United, said that DMT will compliment the company’s existing brands and products. Acme United is the largest worldwide supplier of scissors, and its output is used in knives, fishing tools and industrial cutting products.
Acme United intends to keep the DMT operations in Massachusetts and expects to expand the business and distribution through its customer base.
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