RCD LLC Acquires Detroit Tool & Engineering
83 Year old company is positioning for new growth
Lebanon, Missouri: October 26, 2016 - RCD LLC, held by industry leading executive Jim Sheldon, announced that it has acquired Detroit Tool Engineering (DTE Inc.), a world class automation and tooling engineering and manufacturing company. The company was acquired from the St. Louis based private equity firm of Thompson Street Capital Partners. The sale was completed on Friday, September 23, 2016.
Mr. Sheldon is no stranger to DTE Inc. or the industry. He served as President of DTE Inc. between 1998 and 2004, supporting the largest revenues and returns in DTE Inc. history. From 2004 to 2010 Jim served as the President of ATS, one of the largest worldwide automation companies. His passion and advocacy for the industry, the employees, and the community has inspired Jim to return to DTE and Lebanon, Missouri.
The strategic plan associated with this acquisition will reposition DTE Inc. as a prominent company in both the Factory Automation Systems and Tool & Die Systems industries. “With worldwide c-suite market and customer base connections, a strong employee talent pool, and an appropriate capital structure, we plan to reposition DTE as an industry leader and we’ll do this with conviction” said Jim Sheldon. “I have managed factory automation and tooling companies in many different states and many different countries but I have never come across a more talented and dedicated group of employees than here at DTE Inc. within the greater Lebanon community”.
About DTE Inc.
DTE is a full service, vertically integrated engineering and manufacturing company providing custom automation solutions, custom equipment design, tool and die manufacturing, and build to spec services for a variety of industries. DTE has three diverse business segments structured to address both horizontal and key vertical markets; Factory Automation Systems, Tool & Die Systems, and Parts & Service. Key vertical markets include; the appliance, agriculture, automotive, medical, pharmaceutical, and specific consumer product markets. http://www.detroittool.com
Executive Relations:
DTE Inc.
Cindy Jones (CFO)
+1-417-532-2141
cjones@detroittool.com
