Manufacturing

Tool maker sells to Indiana company

February 24, 2017
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Riverside Tool Corp. trade show booth
Riverside Tool Corp. makes tooling for the woodworking and plastics industries. Photo via fb.com

An Indiana-based tool maker expects to strengthen its capabilities after acquiring a similar Grand Rapids company.

Riverside Tool Corp. of Elkhart, Indiana said recently it acquired Grand Rapids-based Carbide Specialties.

The sale was completed on Jan. 3.

Terms of the deal were not disclosed.

Carbide Specialties has been producing cutting tools for the woodworking and plastics industries for nearly 50 years.

Riverside Tool also produces cutting tools for the woodworking and plastics industries.

It said the acquisition will strengthen the “capabilities, products and services” of both companies.

Riverside Tool Corp. is a Techniks Industries company.

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