# Precision Cutting Technologies acquires majority stake in CID Performance Tooling

Precision Cutting Technologies, a subsidiary of Alleghany Capital Corporation, acquired a majority interest in Coastal Industrial Distributors, LLC (dba CID Performance Tooling), a manufacturer of high-performance solid carbide end mills based in Saco, Maine.

- Type: Acquisition
- Announced: 2019-06-24
- Where: Saco, Maine, United States
- Status: completed
- Products: high-performance solid carbide end mills
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Precision Cutting Technologies](https://endata.com/companies/40202.md)
- [Alleghany Capital Corporation](https://endata.com/companies/23968.md) (acquirer)
- [Alleghany Capital Corporation](https://endata.com/companies/23968.md) (investor)
- [Precision Cutting Technologies](https://endata.com/companies/40202.md) (acquirer)
- [Precision Cutting Technologies](https://endata.com/companies/40202.md) (partner)
- [CID Performance Tooling](https://endata.com/companies/40203.md) (target)
- [Coastal Industrial Distributors (CID Performance Tooling)](https://endata.com/companies/40227.md) (target)
- [Alleghany Corp.](https://endata.com/companies/40240.md) (partner)

## Sources

- [olshanlaw.com](https://www.olshanlaw.com/newsroom/news/AlleghanyAcquisition-Olshan-Subsidiary-CID-Performance), 2019-06-24: "Alleghany Capital Corporation announced the acquisition by Precision Cutting Technologies of a majority interest in Coastal Industrial Distributors, LLC, dba CID Performance Tooling."
- [dtiinside.com](https://www.dtiinside.com/news/alleghany-capital-corporation-acquisition-of-cid-performance-tooling/), 2019-06-24: "This transaction furthers Alleghany Capital’s growth strategy in the machine tool and consumable tooling industries."
- [mainebiz.biz](https://mainebiz.biz/article/saco-toolmaker-acquired-by-alleghany-corp/), 2019-06-25: "We are pleased to have found a long-term home for the company and are excited about the opportunities that will result from this transaction."
- [mmsonline.com](https://www.mmsonline.com/news/bourn-kochs-parent-company-acquires-cid-performance-tooling-forms-new-holding-company), 2019-07-11: "Bourn & Koch’s parent company, Alleghany Capital Corp., has acquired Coastal Industrial Distributors (CID Performance Tooling), and has formed a new holding company for its subsidiaries in the machine tool and consumable cutting tool sectors."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.