GREENVILLE — Machining and fabrication service provider FabX Industries Inc. has acquired an Indiana-based business that specializes in designing and manufacturing automation, assembly and test systems primarily for the automotive industry.
In a deal that closed Oct. 31, FabX Industries acquired Fort Wayne-based Guide Engineering LLC. The acquisition adds capabilities to FabX, which is focused on high-quality, cost-effective and value-added machining and fabrication services.
FabX Industries president Gopi Ganta will now take on the CEO role at Guide Engineering, according to an announcement on the sale. Guide Engineering president and former co-owner Scott Taylor will serve as president for the company, while his partners, Andy and Lisa Zundel, transition to retirement.
FabX, the parent company of Aquest Machining & Assembly and LaserTec, expects to maintain Guide Engineering’s employees, and is planning to add design and control engineering positions.
Ganta said in a statement that FabX’s interest in Guide Engineering stemmed from the synergies between the two companies, in addition to the experience and skill on Guide’s staff paired with the rising demand for automation throughout the United States.
“I’m really excited to be working with Guide Engineering,” Ganta said in a statement. “With my engineering background, I can provide strategic direction for Guide to pursue opportunities outside of the automotive field.”
Grand Rapids-based mergers and acquisitions firm NuVescor Group advised Guide Engineering on the deal.
Over the summer, FabX Industries also acquired Kalamazoo-based Elite Tooling LLC, which was founded in 1996 by a then 18-year-old Shane Smith. Elite Tooling is a CNC machine company that primarily serves pharmaceutical, medical and aerospace manufacturers with low-volume, high-precision parts.