JOHNSON CITY, Tenn. — NN Inc. announced that it has completed the acquisition of the assets of V-S Industries, a privately held manufacturer of precision metal components with operations in Wheeling, Ill., and Juarez, Mexico. NN said the acquisition of V-S will provide it with a complementary but broader product offering and will allow penetration into adjacent markets. Financial terms of the deal were not disclosed.
V-S Industries produces components for a variety of industries, including valve plates, pistons, crankshafts, and various fittings for the HVACR industry. NN Inc. will continue operations at the existing facilities in Illinois and Mexico and will roll up the operations under its NN Precision Metals Components Group.
Rich Holder, president and chief executive officer of NN Inc., said, “Our acquisition of V-S Industries is the first of numerous transactions we are executing as a key component of our new strategic plan. The V-S portfolio is complementary to the products we currently manufacture in our Precision Metals Components Group and provides us entry into adjacent markets and increases our global manufacturing footprint while allowing us to better serve both existing and new customers. We are actively engaged in other discussions and expect to announce additional transactions in the near future.”
NN Inc. manufactures and supplies high-precision metal bearing components, industrial plastic and rubber products, and precision metal components to a variety of markets on a global basis. Headquartered in Johnson City, Tenn., NN has 12 manufacturing plants in the United States, Western Europe, Eastern Europe, Mexico, and China.
Publication date: 3/3/2014