Charlotte, NC - "I promised my employees I would take care of them," were the words Ron Baysden shared with prospective buyers of his CNC machining operation. This month, that promise was upheld when he sold the assets of Bellwright Manufacturing, LLC ("Bellwright") to Skyway Precision, Inc ("Skyway").
Bellwright, a CNC machining operation based in Summerville, SC, provides Skyway a Southeast presence, strong workforce and expanded customer base. Bellwright serves heavy truck, automotive, agriculture and industrial sectors with quality machined components.
Bill Bonnell, President of Skyway, added, "We are excited to work with the Bellwright team to enhance our value proposition to our customers. This transaction demonstrates our continued commitment to leadership in our core products and technologies and to creating long-term, value-added partnerships with our customers. We will continue to pursue disciplined organic growth with our customers, as well as strategic acquisitions."
Business Acquisition & Mergers Associates advised Bellwright from initial marketing activities through diligence and closing. Bass, Dunklin, McCullough & Smith provided legal representation for the seller. Terms of the transaction will not be disclosed.
Business Acquisition & Merger Associates, a Charlotte, NC advisory firm, assists business owners in growth recapitalizations, business transfers to financial or strategic buyers, and management buyouts. BAMA also helps companies grow by providing buy-side sourcing services that identify potential add-on acquisitions to expand geographic footprint or add strategic products and capabilities.
Bellwright Manufacturing provides high quality CNC machining and assembly services to their long-standing customer base. Founded in 1977, the company supplies automotive, railroad, heavy truck and agriculture industries. Bellwright is recognized by their commitment to excellent customer service and high quality products. The Company is ISO/TS16949:2009 certified.
Skyway Precision serves transportation and general power markets with complex machine components. Through ingenuity, flexibility and attention to detail, Skyway's skilled team manufactures high quality products and is a preferred supplier to many global OEMs. Based in the Midwest, Skyway was founded in 1968 and with this acquisition, employs over 330 people across five locations.