Management at Alleghany Corp.’s subsidiary, Alleghany Capital Corp., announce the acquisition of a majority interest in Bourn & Koch Inc., a privately-held manufacturer and remanufacturer/retrofitter of precision machine tools and supplier of replacement parts for 27 different product lines headquartered in Rockford, IL.
Weston Hicks, CEO of Alleghany, states, "Over the last thirty-five years, Bourn & Koch has built a portfolio of some of the most well-known machine tool brands in the United States. The company has a long history of providing top quality products and services to its customers and we believe that Bourn & Koch's outstanding management team has positioned the company for a bright future. Alleghany looks forward to supporting Bourn & Koch's management and employees as they continue to grow their business."
Tim Helle, president of Bourn & Koch, says, "Bourn & Koch has grown a great deal in recent years and we believe that our relationship with Alleghany will support the next step in our growth and development while helping us continue to provide superior products and services to our global customer base."