The TCF Capital Funding recently announced that they are giving $15 million worth of secured financing in order to support the plan of the Mangrove Equity Partners to purchase the Dixie Diamond-Concut Group.
Both the Dixie Diamond Manufacturing located in Lilburn, Georgia and Concut, Inc. located in Kent, Washington has merged in order to create an entity that will have a more visible presence nationally. The two companies are family-owned with quite a history when it comes to success in the field of manufacturing equipment, core bits and diamond blades. When merged, they will become the largest diamond tool manufacturing company that is owned by an American located in North America.
Dixie Diamond is known in manufacturing diamond blade that are consumable as well as core bits made of diamond material which are all used during rod repair, construction of commercial buildings and infrastructure. For over four decades, the companies have been manufacturing cutting tools that are of high performance through the use of the latest and most advance techniques and equipment in production as well as the highest quality raw materials.
Concut, Inc., on the other hand, has been a leader when it comes to manufacturing tools and equipment made of diamond for more than seven decades. The company is serving various customers in different industries locally, regionally, nationally and even internationally based. They have a wide range of diamond blades as well as core bits. They also have a complete product line of equipment depending on the uses such as cutting tile, stone, concrete and masonry among other materials.
The merger made it possible to accomplish goals that both management of the company have dreamed for a long time. Each of the management from Concut and Dixie Diamond recognizes the many benefits that the merger will bring to the company.
According to the senior vice president of TCF Capital Funding, Ed Ryczek, they are excited for Mangrove and how the companies will continue to make their business a success.
For clients looking for diamond blades, order only from trusted manufacturers of quality diamond equipment and tools.