Methods Machine Tools Set to Acquire Koch Machine Tool
Methods Machine Tools Inc. (Sudbury, MA) has signed an agreement with an intent to acquire Koch Machine Tool, a machine tool dealer and Methods’s avenue into the Texas machining market since 2010.
Posted: November 17, 2021
Methods said that it anticipates a definitive agreement by January 1, 2022. Also, Methods said that both companies are preparing the proper structure and closing out final transactions to make the transition smooth for all employees and customers.
In its press release, Methods described how aquisition talks started. They began when Mike Koch, president of Koch Machine Tool, started to plan for his retirement. Koch has been in the machine-tool business for 40-plus years. Methods learned that Koch was looking for the next owner of his business, so Mark Wright, president and CEO of Methods, reached out to Koch about Methods buying the company.
“I’ll always want the best for my employees, customers, and everyone in between,” Koch said. “I wanted to ensure everyone would be in the best hands possible, so naturally Methods Machine Tools was the obvious good choice.”
The Koch offices in Dallas and Houston will become Methods’s facilities. Methods added that Koch has agreed to become a co-general manager of these locations. He is expected to remain in that position for about three years to help facilitate the acquisition. Methods said it will announce the other co-general manager at a later date.
“Mike built a great team, and we think there is room to seriously grow the market,” Wright said. “Koch has tremendous knowledge of machining and the Houston and Dallas markets. We’re excited to see what the combination of Koch’s mindset and our expert technicians can do for the machining industry across Texas.”
Methods Machine Tools supplies machine tools and automation equipment
