Cretex Companies on January 5 announced that is has acquired the assets of Meier Tool & Engineering (MTE), a leading manufacturer of miniature and micro-sized stamped components and sub-assemblies for the medical, aerospace and defense, and specialty electronics markets. MTE brings to Cretex its strong expertise in product design assistance, prototyping, tool design/build, and production of precision metal stampings and value-added assemblies. Founded in 1979 by Richard Meier, MTE is privately held and located in a state-of-the-art facility in Anoka, Minn.
“We are delighted to add Meier Tool & Engineering to the Cretex family of companies,” said Lynn Schuler, chief executive officer of Cretex Companies Inc. “The acquisition of MTE enhances our presence in the medical and aerospace and defense markets and adds capabilities which compliment rms and Juno—two companies in our portfolio which are already well-known in these markets for precision machining, metal fabrication, and plastic molding. We are also pleased that Rick and his management team will be staying on to lead MTE and continuing to grow the business by providing exceptional service to their customers.”
Terms of the acquisition were not disclosed.