Northeast Ohio Companies Create New Company and New Brand
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Chagrin Falls, OH – As a result of Deep Hole Specialists acquisition of Adanac Industries and the resultant expansion of resources, talent and capabilities, a new company and a new brand has been formed — XACT SPEC INDUSTRIES LLC, a supplier of precision machining deep hole drilling.
Established in 1954, Deep Hole Specialists, Chagrin Falls, provides specialized metalworking services for the industrial, aerospace, steel processing, petrochemical and energy markets. Adanac Industries, Willoughby, founded in 1960, is a manufacturer of close tolerance, and high precision components utilizing exotic metals in critical applications for the aerospace and defense markets.
“This is part of our long-term strategy to position XACT SPEC as a leading provider of machining for the Aerospace, Defense, Medical, Energy and General Industrial sectors for many years to come,” says Peter Barnhart, Chairman and CEO of XACT SPEC. “This consolidation is a “win-win” for everyone. It brings all of our resources under one roof, allowing us to increase production, realize cost efficiencies, eliminate duplication and raise overall company performance and our value to customers.” Barnhart added, “Having the combined skill set and experience of this talented workforce puts us in an optimal position from day one. In fact, we will be looking to hire additional machinists as we move forward.”
Employees were notified of and given the details of the new company name and branding initiative at the end-of-the-year employee luncheon.
The new company will remain headquartered at the Chagrin Falls facility at 16959 Munn Road.
Additional details of this merger are available by phone interview.Â
XACT SPEC provides precision machining and drilling services to the aerospace, defense, medical, energy, petrochemical, transportation and industrial markets throughout the United States. The company combines extensive technical skills with a commitment to customer satisfaction to maintain a leading position in the markets it serves. Newly formed as a result of a purchase of Adanac Industries by Deep Hole Specialists, XACT SPEC is headquartered in Chagrin Falls, OH.
XACT SPEC is newly formed from the purchase of Adanac Industries by Deep Hole Specialists which was completed July 2012. The company is dedicated to providing precision machining and drilling services to the aerospace, defense, medical, energy, petrochemical, transportation and industrial markets throughout the United States.
Corporate Headquarters: 16959 Munn Road, Chagrin Falls, OH
Executive Officers: Peter Barnhart, Chairman and CEO
Virginia Joseph, CFO
For more information: www.xactspec.com
