Precision Plus Acquires Iseli Company
The two companies will be wholly owned subsidiaries of the newly formed parent company, Reader Precision Solutions.
Edited by Angela Osborne
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Photo Credit: Precision Plus
Precision Plus has acquired the Iseli Company, located in Walworth, Wisconsin. Founded originally as Beamco Manufacturing in 1952, the Iseli Company is a supplier of Swiss-screw machine products for a wide array of clients nationwide. The Iseli Company, which celebrated 70 years of Swiss-machining excellence last year, will be known as Iseli Precision upon completion of the purchase. Together, the two companies will be wholly owned subsidiaries of the newly formed parent company, Reader Precision Solutions.
Operating more than 350 Swiss-Type Cam and CNC Lathes within its 100,000-square-foot manufacturing facility, its expertise in Swiss machining, cam layouts, cam cutting and centerless grinding will solidify the combined organization as one of the largest, most capable Swiss precision machining groups in the country.
“This is an exciting time for everyone associated with Iseli Precision, Precision Plus and Reader Precision Solutions,” says Michael J. Reader, Reader Precision Solutions president and owner. “This acquisition brings together two well-established industry leaders in Walworth County, Wisconsin. We could not ignore the opportunity presented, and immediately recognized the synergies this would deliver to our combined clients. We are two legacies, once connected in the distant past, reunited and better together.”
Beyond Iseli Precision’s fleet of Swiss-type machines, its strong leadership team, client base and historic manufacturing legacy will blend seamlessly with Precision Plus’ award-winning workplace development, culture and investments in the next generation of manufacturing professionals.
“Iseli has a long history and talent for designing Swiss cam layouts and cam cutting. This rare, internal capability will prove to be a competitive advantage going forward as other Swiss cam houses discover there are no great options out there,” says Carey Luiting, general manager at Iseli Precision. “Combining Iseli’s strengths in cam technology with Precision Plus’ expertise in highly engineered Swiss CNC and CNC turning and milling solutions makes for a perfect, complementary match.”
