Bourn & Koch's Parent Company Acquires CID Performance Tooling, Forms New Holding Company
Precision Cutting Technologies, the new holding company, will include Bourn & Koch, Diamond Technology Innovations and CID Performance Tooling.
Bourn & Koch’s parent company, Alleghany Capital Corp., has acquired Coastal Industrial Distributors (CID Performance Tooling), and has formed a new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors. Precision Cutting Technologies, the name of the new holding company, will include Bourn & Koch, Diamond Technology Innovations (DTI) and CID Performance Tooling.
“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,” says David Van Geyzel, president and CEO of Alleghany Capital.
