Harvey Performance acquires ATA

Harvey Performance Co., a leading provider of specialized cutting tools for precision machining applications, acquired ATA. Harvey Performance serves the market through Harvey Tool, Helical Solutions, Micro 100, Titan USA, CoreHog, and Valor Holemaking. ATA is an Ireland-based precision engineering multinational and the parent company of the Karnasch, SGSPRO, ATA Tools, Van Hoorn Carbide, Industrial Tooling Corp., and Garryson brands.

“We couldn’t be more excited about welcoming ATA to the Harvey Performance family,” says Brian Lavelle, chief executive officer of Harvey Performance Company. “This acquisition represents a milestone in the proud history of the company and further establishes our integrated, international business comprised of distinctive brands and product lines.”

Since its inception as a family business in 1963, ATA has remained steadfast in its dedication to manufacturing, supplying, and distributing tools of exceptional quality. Today, it boasts a product offering exceeding 25,000 precision industrial cutting tools which it supplies to leading manufacturing industries, including aerospace, power generation, electronics, and more. ATA –which is headquartered in Ireland and has additional operating locations in the United Kingdom, United States, Germany, The Netherlands, and Switzerland – engineers, manufactures, and distributes its products globally from its seven manufacturing facilities, worldwide.

“We were immediately impressed by ATA, its global team and tremendous collection of brands,” Lavelle says. “Like all Harvey Performance brands, ATA brands have an established reputation for providing outstanding customer service and a dedication to manufacturing the industry’s highest quality products.”

Harvey Performance and ATA are both established leaders in their respective geographies, and the acquisition is expected to create a powerful combination across North America and Europe. The acquisition will bring an outstanding international platform on which Harvey Performance can continue to grow and expand. The ATA management team will continue to drive business for the company outside of the US.

“This acquisition presents great potential for Harvey Performance,” says Harvey Performance Company Senior Vice President of Sales Jerry Gleisner. “It provides Harvey Performance’s North American customers with exposure to some of the best industrial cutting tools that Europe has to offer.”

Peter Cosgrove, CEO of ATA, says, "ATA is delighted to join Harvey Performance Company, with whom we share a unified global vision for the future. We’re focused on expanding Harvey Performance's brands across Europe and beyond while introducing ATA's leading brands to Harvey Performance’s customers. I am honored to join the Harvey Performance board. Our management team is looking forward to collaborating with our new colleagues, and our primary focus remains on driving business growth globally.”

“We are excited for the many growth opportunities enabled by the combination of Harvey Performance and ATA’s highly complementary offerings and talented leadership teams,” says Ted Rainaud, managing director, Berkshire Partners. “This acquisition represents a significant expansion of Harvey Performance’s product offering and geographic presence. We look forward to supporting the continued growth and expansion of the combined business.”

ATA’s investment partners Development Capital and the Ireland Strategic Investment Fund, who invested in 2017 and 2019 respectively, will exit as a result of the transaction.

Andrew Bourg, Co-founder and Director of Development Capital says, “We are delighted to see ATA attract a company the caliber of Harvey Performance, reflecting the success of the vision for the sector by the ATA management team. During the investment period we have been delighted to help ATA scale significantly and develop into an international leader in the cutting tools industry.”

Brian O’Connor, Ireland Strategic Investment Fund says, “ISIF’s investment in ATA is a clear example of its double bottom line mandate in action, investing on a commercial basis to support the scaling of an Irish indigenous business globally, and so supporting economic activity and the creation of high value employment in Ireland. Today’s announcement reflects a strong performance by the ATA team, a positive outcome for the company and a strong investment return for ISIF.”

Piper Sandler acted as exclusive financial advisor to Harvey Performance Company and Berkshire Partners on the acquisition of ATA. Houlihan Lokey acted as exclusive financial advisor to ATA.