Baton Rouge’s Drillco is one of two companies acquired by a Montreal, Québec company on a quest to become a global leader for productivity in the metalworking industry.
Walter Surface Technologies last week announced it had acquired the Louisiana premium cutting tools company, along with Minnesota’s Triumph Twist Drill, which manufactures tooling and drilling solutions.
Both companies will continue to operate under their own respective brands. The transaction is effective immediately, and activities for both customers and suppliers remain unchanged.
According to an announcement, Walter is expanding its cutting tool product offering to metalworkers complementing its high-end metalworking products.
“Drillco brings a solid distribution network and product expertise that will allow us to continue our mission to help our customers work better,” Walter CEO Marc-André Aubé said in making the announcement. “This transaction is an unequalled opportunity to build up our activities in the North American market as we continue to evaluate other growth strategies, namely through accretive acquisitions.”
Drillco CFO Sandra Woodard says the acquisition provides “the perfect alignment of both products and values.”
Drillco, located on South Choctaw Drive, was founded in 1978 and offers domestic and imported metal cutting tools including drills, taps, dies, reamers, annular cutters, magnetic drill machines and more.