Swiss-Tech bought by private investment group

April 19, 2008

Cornerstone Industrial Group, a private investment firm in Chagrin Falls, Wisc., said it has acquired a Swiss-Tech LLC, a Delevan, Wisc. company that makes precision-machined components for a variety of markets.

Terms of the purchase were not disclosed. Cornerstone made the acquisition in partnership with Swiss-Tech’s management team through a new venture, Swiss-Tech Holdings LLC.

Swiss-Tech, founded in 1965, makes components for the aerospace, dental, fluid power, industrial and medical markets. It has 120 employees.

Michael Adams, managing director of Cornerstone, said Swiss-Tech was a good fit for Cornerstone’s acquisition focus on smaller mid-market industrial companies with strong management teams, diversified customer bases and outstanding international technical abilities.

“Swiss-Tech is a very well-managed business that has a long history of growth in very attractive end markets,” Adams said.

Cornerstone also owns Gasko Fabricated Products of Medina; Wahl Refractories of Fremont, Ohio; and Rhopac Fabricated Products of Libertyville, Ill.