02 settembre 2019

Alleghany Capital Corporation Announces Formation of Precision Cutting Technologies and Acquisition of CID Performance Tooling

NEW YORK — Alleghany Capital Corporation (“Alleghany Capital”), a wholly-owned subsidiary of Alleghany Corporation, today announced the formation of Precision Cutting Technologies, Inc. (“Precision Cutting Technologies”) and the acquisition by Precision Cutting Technologies of a majority interest in Coastal Industrial Distributors, LLC, dba CID Performance Tooling (“CID”). Headquartered in Saco, Maine, CID is a leading manufacturer of high-performance solid carbide end mills. Precision Cutting Technologies is Alleghany Capital’s new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors, which include Bourn & Koch, Inc. (“Bourn & Koch”), acquired in 2012, Diamond Technology Innovations, Inc. (“DTI”), acquired in 2016, and CID.

David Van Geyzel, President and Chief Executive Officer of Alleghany Capital, commented, “This transaction furthers Alleghany Capital’s growth strategy in the machine tool and consumable tooling industries. While the formation of Precision Cutting Technologies will not change the management of Bourn & Koch, DTI, and CID, it places these companies under a single platform so that they can share resources and leverage their combined capabilities to provide an enhanced product and service offering to their customers. Alleghany Capital is pleased to welcome CID to the Precision Cutting Technologies group of companies and looks forward to supporting Bourn & Koch, DTI, and CID as they continue to serve their markets.”

Terry Derrico, President of Precision Cutting Technologies and Bourn & Koch, added, “We are excited to partner with Jay Lowery, founder and President of CID, as well as his experienced team, and believe that the employees, customers, and suppliers of all the companies within the Precision Cutting Technologies platform will benefit from this acquisition. CID enhances Precision Cutting Technologies’ portfolio of consumable cutting tools, while expanding our business in the aerospace, defense, and medical end-markets. With Jay continuing to lead the company post-transaction, CID’s day-to-day operations will not be impacted. However, we believe CID will be well positioned to accelerate growth and augment its geographic reach by leveraging the experience, capabilities, and support of Bourn & Koch, DTI, and Alleghany Capital.”

“Over the past thirty years, CID has become a leader in producing the highest quality custom tooling solutions for customers serving the most demanding end-markets,” stated Jay Lowery. “As we build on our proven track record of quality, innovation, and service, we are pleased to have found a long-term home for the company and are excited about the opportunities that will result from this transaction.”

Dinan & Company, LLC acted as financial adviser and Olshan Frome Wolosky LLP acted as legal counsel to Alleghany Capital. Ainsworth, Thelin & Raftice, P.A. acted as legal counsel to CID.

About Alleghany Capital Corporation

Alleghany Capital Corporation owns and manages a diverse portfolio of middle market businesses for its parent company, Alleghany Corporation (NYSE:Y). Alleghany Capital’s industrial businesses include: (i) Precision Cutting Technologies, Inc., a holding company focused on the machine tool and consumable cutting tools sectors through Bourn & Koch, Inc., Diamond Technology Innovations, Inc. and Coastal Industrial Distributors, LLC (dba CID Performance Tooling); (ii) R.C. Tway Company, LLC (dba Kentucky Trailer), a manufacturer of custom trailers and truck bodies for several niche end markets; (iii) WWSC Holdings, LLC, a structural steel fabricator and erector for commercial, industrial, and transportation infrastructure projects; and (iv) Wilbert Funeral Services, Inc., a provider of products and services for the funeral and cemetery industries and precast concrete market. Alleghany Capital’s non-industrial businesses include: (i) Concord Hospitality Enterprises Company, a hotel management and development company; (ii) IPS-Integrated Project Services, LLC, a provider of design, engineering, procurement, construction management, and validation services for the pharmaceutical and biotechnology industries; and (iii) Jazwares, LLC, a global toy, entertainment, and musical instrument company.

About Precision Cutting Technologies, Inc.

Precision Cutting Technologies is a holding company with three operating businesses: (i) Bourn & Koch, Inc., a provider of precision automated machine tool solutions with a portfolio of 28 well-known brands and a focus on gear and grinding machinery; (ii) Diamond Technology Innovations, Inc., a manufacturer of waterjet orifices and nozzles and a provider of related services; and (iii) Coastal Industrial Distributors, LLC (dba CID Performance Tooling), a provider of high-performance solid carbide end mills.

Per maggiori informazioni contattare i membri coinvolti nell'operazione:
About Translink USA

Dinan & Company, LLC is a partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions. The firm has particular expertise in Buyside M&A, having gained a reputation as the leading middle-market buyside firm in the US.


Press Office

Cristina Fagioli
T. +39 02 94555600



  • “I’m very glad about this win-win strategic cooperation with Kiwa. BCC will further enrich its competitiveness in the certification business and enter into the lab testing field as new growing points. Meanwhile, BCC provides a solid foundation for Kiwa to expand into the China and Asia Pacific market. We also thank Translink CF for introducing such a high quality strategic partner to BCC. Even though Translink is advisor for the buy side, they acted fairly and were very experienced and managed professionally throughout the whole process.

    Huang Quan,
    Chairman of BCC Inc
  • "The Translink team executed the entire transaction process. I can warmly recommend them for any Corporate Finance-assignments"

    Chairman of the Board, Anneli Koivunen,
    Priorite Group
  • "Translink’s advisory ensured successful sales process completion with the terms that satisfied all the owners."

    CEO and founder, Tomi Pulkki,
    HopLop Oy
  • "Translink Peakstone’s thoughtful guidance and dedication throughout the entire process were critical to achieving a very successful outcome that met all of our transaction objectives."

    CEO, Mike Gibney,
  • "Translink is a determined advisor. The outcome of the transaction was in line with our expectations. I believe the transaction will ensure Amomatic even better chances for continuous growth and development"

    Former Chairman of the Board,
    Olavi Ruokonen, Amomatic Oy