The high-tech company TRUMPF has acquired Mate Precision Technologies. The US company is a global leader in stamping and bending tools. Mate will continue to operate independently in the market under the existing brand; both the management and the international teams will remain unchanged.
So far, TRUMPF has offered its customers bending and stamping tools that are exclusively compatible with its own machines. Through the partnership with Mate, TRUMPF can also offer its customers stamping and bending tools that operate stamping and bending machines from other manufacturers. Furthermore, TRUMPF is expanding its market position in the USA, Canada, and Mexico. At the same time, TRUMPF's global presence opens up new opportunities for Mate.
Together, the companies will serve customers from various industries. This step is also part of TRUMPF's customer-oriented strategy to manufacture machines and service products where customers need them. This localization strengthens the resilience of supply chains, enables more regional manufacturing and delivery, and complements Mate's production site for serving customers across North America.
"Mate, with its strong market position, is a sensible addition and valuable enrichment for TRUMPF," says Lutz Labisch, President & CEO of TRUMPF Inc. in Farmington, CT. "The company produces tools for nearly all major machine brands worldwide and shares our commitment to customer success in the machine tool sector. Mate's tool expertise, manufacturing in the USA, and the company's trusted customer relationships will help us support sheet metal fabricators even better."
For TRUMPF, this acquisition means a continuation of more than five decades of manufacturing tradition in the USA and underscores the goal of ensuring customer proximity in production. Mate's locations in Minnesota complement TRUMPF's local production facilities in Farmington, Connecticut, where the company has been manufacturing since 1974.
"Here, two family-owned companies with similar values and a clear commitment to quality are coming together. Mate's customers will retain the brand, products, and contacts they trust, but now have a strong global partner behind them," says Till Küppers, Managing Director at TRUMPF and responsible for production in the machine tool sector and North American business.
For sheet metal workers, the acquisition brings better access to expertise in tools, application support, and solutions for a variety of production environments.
"For more than 60 years, we at Mate have stood for respect for our employees and the best possible support for our customers – values that TRUMPF shares with us," explains former Chairman of Mate, Dean Sundquist. "The merger with TRUMPF ensures this in the future and opens up attractive growth opportunities for us, thanks to the global customer base and distribution network. At the same time, the brand, team, and independence in the market will remain intact – just as our customers know it."
Joe Schneider, the current President of Mate, has been with the company for 32 years and will continue to lead the business – now with the new title of President & CEO. He emphasizes: "The Mate story continues, we have just opened a new chapter. With TRUMPF by our side, we grow faster and support our customers at more locations than we could alone."
For Mate's customers, employees, suppliers, and partners, products, services, contracts, and contacts are expected to remain unchanged. Mate's tools will continue to support a wide range of machine brands, while the combined tool business creates new opportunities for servicing sheet metal workers through TRUMPF's larger international reach and existing tool businesses.
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