Mayville Engineering Company Inc. (MEC) has acquired Defiance Metal Products (DMP), a manufacturer of metal products for the commercial vehicle, agriculture, construction and military industries, through a private stock purchase. Additional terms of the transaction were not disclosed.
Robert Kamphuis, MEC chairman, president and CEO, says the result of the acquisition is a stronger, better company. “MEC and DMP, combined, create greater customer and industry diversification, providing more products and processes through an expanded geographic footprint. Overall, two great companies become one great team,” says Kamphuis.
Steve Mance will continue post-acquisition as president of DMP, a MEC company, and will be involved in integrating the two companies. It is anticipated that all of DMP’s 975 employees will remain with the organization, and no changes are expected in the foreseeable future.
“We are very excited about this acquisition and what it means for our employees and our customers,” Mance says. “Both DMP and MEC are outstanding companies with solid corporate values and great employees that will be important for the future. MEC is clearly a strategic long-term investor that is excited about growing the combined company. This acquisition strengthens our joint future and enhances our ability to compete for the long-term.”