Atlantic Management Company, Inc., a Portsmouth, NH based valuation and financial advisory firm, is pleased to announce that the Swissturn/USA, Inc. Employee Stock Ownership Plan has acquired an interest in Swissturn/USA, Inc. of Oxford, MA. Atlantic Management Company, Inc. served as independent appraiser to the trustees of the ESOP and assisted in structuring the transaction.
Swissturn/USA and its 60 employees manufacture precision machined parts and specializes in “Swiss Screw” machine products. Swiss Screw machines are automated, high precision lathes used to manufacture small metal and plastic components for medical and laboratory instruments, firearms, office machines, valves, consumer products, and other industrial products.
The Company has built a culture that provides employees significant autonomy through self-directed work teams, and now that the employees are employee-owners, they will share in the financial success of Swissturn/USA. Being an employee-owned Company ensures Swissturn/USA will remain an independent, locally operated company, and the values that have allowed Swissturn/USA to prosper for nearly 30 years will continue unchanged.
“Atlantic Management has been an excellent choice for us. They helped us move through the transaction relatively easy, and I highly recommend their firm”, commented Ken Mandile, president of Swissturn/USA.
John P. Murphy, president at Atlantic Management noted, “We appreciate the opportunity to have worked with the Swissturn/USA team, and look forward to continuing our relationship with the company’s employee-owners as they build a significant retirement benefit.”