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ROWLEY, Massachusetts and Meridan, Idaho (January 15, 2019) – Rowley, Massachusetts and Meridian, Idaho – Harvey Performance Company (“Harvey Performance” or the “company”), a leading provider of specialized cutting tools for precision machining applications through industry leading brands Harvey Tool and Helical Solutions, today announced the acquisition of Micro 100. Based in Meridian, Idaho, Micro 100 is a leading innovator in turning tools, specializing in internal boring, grooving and threading tools and milling tools.
Micro 100’s position as a manufacturer of outstanding products in both the turning and milling categories makes it an ideal addition to the Harvey Performance portfolio of brands. Its products provide a strong complement to Harvey Tool’s miniature and specialty profile tooling and Helical Solutions’ high performance end mill selection. Because of this, the addition of Micro 100 significantly increases the company’s market opportunity.
“We are on a journey to assemble and build a world-class company made up of outstanding brands and product lines supported by incredible people,” said Pete Jenkins CEO of Harvey Performance Company. “The addition of Micro 100 products to the Harvey Performance portfolio will help accelerate our ability to do just that. Micro 100 has a demonstrated dedication to quality products, excellent reputation and outstanding service – all traits that are consistent with the Harvey Performance way of doing business.”
“The Harvey Tool and Helical Solutions Brands serve some of the most advanced and demanding end users in the industry,” said Jerry Gleisner, Senior Vice President of Sales for Harvey Performance Company. “Micro 100’s product line, particularly their strong focus in turning tooling, will allow us to offer additional capabilities and value to our distributors and end users.”
Moving forward, the Harvey Performance team will focus on scaling and growing each of the company’s three brands. “We will continue to manufacture Helical Solutions product in our Gorham, Maine facility and Micro 100 product in the Meridian, Idaho location,” said Brian McKahan, Vice President of Operations of the Harvey Performance Company. “We have plans for significant investment and growth across all of our brands.”
The acquisition of Micro 100 better positions Harvey Performance and its brands to compete and grow. “One thing that is a constant in our business is change, with regular consolidation amongst our competitors, our distributors and our end users,” said Jenkins. “We will continue to look to expand our product portfolio through acquisition. Scale matters, and we believe that – through thoughtful assembly of brands and products – we can enhance the end users’ productivity and increasingly earn their business.”
Harvey Performance Company is backed by global growth investor Summit Partners. Jay Pauley, Summit Partners Managing Director and member of the Harvey Performance board, reiterated the strategic importance of this acquisition. “Micro 100 is a growth business with products that complement the Harvey Performance suite extremely well. We are excited to welcome the Micro 100 team to the Harvey Performance Company Family.”
Harvey Performance Company strives to offer unique and innovative products to solve industries’ most challenging machining requirements. Its distinct brands, Harvey Tool, Helical Solutions, and Micro 100, serve specialty needs and markets with a shared commitment to delivering high quality products and superior service. The brands offer a broad range of products and services that help support machinists, engineers, and CNC programmers while giving their shops a competitive advantage. Harvey Performance has a proud history of doing business the right way – offering fast friendly service, providing comprehensive product support, and treating customers, suppliers, and shareholders in a way that builds strategic, strong, and enduring relationships. For more information visit www.harveyperformance.com.
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