October 23, 2012
Misumi Group Inc. of Japan has signed a definitive agreement to acquire Dayton Progress Corp. and its subsidiary, PCS Co., from Connell Ltd. Partnership, pending certain regulatory approvals. The acquisition, expected to close in November, also will include the Anchor Lamina Die Components business of Connell, known for its Danly, IEM, Lempco, and Lamina brands.
The Die Set and Fabrication divisions of Anchor Danly, not included in this acquisition, will continue to remain subsidiaries of Connell Ltd. Partnership and will continue as a strategic partner of the Components Div. of Misumi.
Dayton Progress and Anchor Lamina manufacture tooling and die components for stamping and forming. Dayton Progress has 10 factories in North America, Europe, and Asia employing 1,000 people and shipping to 13,000 customers in 51 countries. Anchor Lamina employs more than 400 people at two U.S. and two China factories.