Cutting tool, industrial component and medical implant/instrument manufacturer ARCH Global Precision (ARCH; Bloomfield Hills, Mich.), acquired Competitive Carbide Inc. (CCI), located in Mentor, Ohio. CCI is a manufacturer of customized solid carbide drills, end mills, reamers, indexable tools, and custom inserts. Additionally, CCI manufactures polycrystalline diamond-tipped (PCD) tools and inserts, which is a new product offering for the ARCH Cutting Tools segment.
“CCI brings an experienced and highly technical engineering team that provides quick-turnaround, custom-tooling solutions,” said Jeff Cederstrom, ARCH Global Precision divisional president of cutting tools. “Adding CCI’s PCD tooling capabilities fills a product gap within our broad product offering and supports our ongoing strategy of providing a one-stop solution to our customers for all of their cutting tool needs.”
He added that in late 2018, CCI took occupancy of a new state-of-art custom facility, adjacent to its primary facility, which adds incremental capacity to help facilitate CCI’s next stage of growth.
“I am excited to announce the sale of Competitive Carbide to ARCH,” noted Tom Cirino, the former owner and continuing president of CCI. “In choosing an acquirer to sell the company to, it was important to identify a buyer who understood our business, had good cultural alignment and who was committed to the continued growth of CCI. Having stayed in contact with Jeff and the ARCH team over the last several years, I was confident ARCH was the ideal buyer for CCI and its employees.”
Cirino will continue in his current role as president of CCI during the next stage of growth under ARCH’s ownership.