Federal Equipment Company to acquire TKF
Federal Equipment Company, a Cincinnati, Ohio, based supplier of integrated systems to the defense industry and commercial helicopter market, said that it has agreed in principle to buy TKF, Inc., a Cincinnati, Ohio, based conveyor systems and manufacturing company.
The transaction, terms of which were not disclosed, is expected to close early second quarter, the companies said.
In a statement announcing the deal, the two companies said the combination will offer the businesses greater product and geographic coverage from a single-source provider.
By adding TKF’s capabilities, Federal Equipment Company “can expand our customer base with an enhanced solutions offering. We can now utilize our expertise and experience in serving a larger market place,” said Doug Ridenour, Federal Equipment Company’s President.
“From TKF’s perspective,” he added, “the advantages to the acquisition are enhanced capabilities and financial strength. We’ve been trying to build a stronger presence. This merger will allow us to do that,” he said.
Federal Equipment Company (FEC) is a global leader in engineering, manufacturing and systems integration for the defense industry and helicopter landing systems. FEC also manufacturers multiple spindle drillheads through one of its subsidiaries US Drillhead. Through the years the company has emerged into an internationally recognized organization with challenging engineering and manufacturing capabilities. Federal Equipment Company (FEC) is a global leader in engineering, manufacturing and systems
TKF designs, builds and installs conveying systems. The company’s services range from systems integration, initial engineering concepts and final design, to manufacturing and installation. TKF’s manufactured products include reciprocating and continuous vertical conveyors, PosiGrip conveyor, overhead, monorail and power and free conveyor, popup transfer, accumulation, curve, roller and a variety of custom engineered conveyor and material handling systems.