Fort Wayne Manufacturer Acquired
Fort Wayne-based investment management company SOLV Holdings says it has acquired a majority stake in another Fort Wayne company. Financial terms of the deal for advanced metal fabricator and contract manufacturer QuikCut Inc. were not disclosed.
QuikCut operates more than 100,000 square feet of material processing and contract manufacturing space in the Allen County city.
SOLV Holdings is an affiliate of Ambassador Enterprises, also headquartered in Fort Wayne. The company says the investment in QuikCut creates opportunities for “strategic synergies” with other Ambassador affiliates.
“I look to learn from my SOLV colleagues and leverage their experience and expertise to continue to grow QuikCut,” Mark Webb, co-owner and chief executive officer of QuikCut, said in a news release. “My hope is that the QuikCut team can also share our knowledge to support SOLV’s mission and growth.”
SOLV says Webb and co-owner Carey Sipe will continue to lead day-to-day operations for QuikCut.
A spokesperson for SOLV tells Inside INdiana Business there will be no layoffs as a result of the deal. “Instead, this new strategic partnership provides an infusion of capital to support QuikCut’s continued growth.”