Randall J. McNeil, president and CEO of McNeil Industries announced the acquisition of OLS Inc. Terms of the agreement were not disclosed.
OLS Inc. is a privately held manufacturer of deburring, drilling, deflashing and specialty machinery and solutions that are used by global manufacturers of gears and precision parts. McNeil Industries manufactures and distributes precision products including MAXAM® Bearings, McNeil Guide Systems, and industrial seals.
Under the agreement, production, sales, and customer service operations at the OLS plant in Cleveland, which currently employs approximately 15 managers and employees, will continue without interruption.
“We welcome the addition of OLS’s skilled manufacturing people and resources to the McNeil Industries team,” says McNeil. “By integrating the OLS team with our management style and administrative systems, we feel that we can together add value and achieve great things.”