Man Lift Mfg. Co.'s parent company, Universal Mfg. Co., has acquired Ultra Machine & Fabrication Inc. and Ultra Armoring LLC of Shelby, N.C. The acquisition was completed by Metal Works Mfg. Co., a newly formed wholly owned subsidiary of UMC.
Through MWM, UMC will leverage its manufacturing expertise and the capability of the Shelby location to expand its contract manufacturing business in selected industries. MWM will continue to operate UA as an independent brand at the same location.
Frank Stewart, owner of both companies, will continue as a consultant to the new operation.
"This acquisition permits UMC through MWM and UA to enter new and exciting markets - contract manufacturing and government contracting," said Don Dunn, UMC president. The new operation will perform all current contract obligations of the acquired companies, including those between UA and SOCOM and the USMC.
Stewart said, "UMC brings talent and opportunities that will make the Ultra companies more successful than they have been and will allow us to keep these jobs here in Cleveland County."
UMC has extended employment offers to the Ultra employees and is working with North Carolina on a plan to potentially add further jobs in the near future. "We intend to leverage the existing customer base of UMF to enhance and expand our contract manufacturing and expand strategic relationships with OEMs," Dunn said.
Based on booked sales and projections inclusive of this latest acquisition, it is anticipated that UMC revenues will grow to be in excess of $40 million for FY2016.
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