A consortium of mid-market private investment firms has bought into contract tooling and metal stamping business Bennett Tool & Die.
Kansas Venture Capital, Jefferson Capital Partners, Capital for Business and InvestAmerica banded together to buy the company, which supplies the locomotive, electrical, appliance, watercraft and ATV industries.
Although financial details of the transactions were not disclosed, Kansas and InvestAmerica both aim to invest between $1m and $2m, with Jefferson and InvestAmerica targeting businesses with minimum revenues approaching $10m.
Nashville, Tennessee-based Bennett was founded in 1951 and works in design consultation, prototyping, production, testing and machining.
Last month digital point of care service delivery provider Lincor Solutions moved its headquarters to the town following a $9.5m investment from Edison Ventures.
The company said the funding would also be used to finance product development and provide liquidity to its shareholders.
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