Methods Machine Tools Set to Acquire Koch Machine Tool
Methods notes that after finalizing the agreement, machine shops throughout Texas will be able to use its applications and automation teams to solve complex machining challenges.
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Methods Machine Tools Inc. has signed an agreement with an intent to acquire , a machine tool dealer that has connected Methods to the Texas machining market since 2010.
Acquisition talks began when Mike Koch, president of Koch Machine Tool, a 40+ year machine tool veteran, started planning for retirement. Mark Wright, president and CEO of Methods, reached out to Koch earlier this year, and the two began negotiations.
The Koch offices in Dallas and Houston will gradually become Methods’ facilities, and Koch has agreed to become a co-general manager of these locations. He is expected to remain in the position for about three years to facilitate the acquisition.
On the acquisition, Wright says, “Mike built a great team, and we think there is room to seriously grow the market. 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.”
When the two companies finalize the agreement, Methods says machine shops throughout Texas will be able to use its applications and automation teams to solve complex machining challenges. In addition, Methods’ national machine support structure will build upon Koch’s network.
The agreement denotes Methods’ continued growth. The company opened its Los Angeles, Memphis and Wisconsin technical centers in 2014, 2018 and 2020, respectively.
Methods anticipates a definitive agreement by January 1, 2022. Both companies report they are preparing the proper structure and closing out final transactions to make the transition smooth for all employees and customers.
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