P&F Industries Acquires Air Tool Service Company
August 14, 2014
P&F Industries, Inc. acquired substantially all assets of Air Tool Service Company (ATSCO) via a newly formed subsidiary, with the business becoming a wholly owned subsidiary of P&F’s Hy‑Tech Machine, Inc. The purchase price was approximately $7.659 million in cash plus assumption of certain payables and liabilities; P&F said the acquisition is expected to be immediately accretive and to bolster Hy‑Tech’s industrial pneumatic tool offering.
- Buyers
- P&F Industries, Inc., Hy‑Tech Machine, Inc.
- Targets
- Air Tool Service Company
- Industry
- Manufacturing
- Location
- Ohio, United States
- Transaction Type
- Buyout
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