Farmington aerospace manufacturer Edac Technologies Corp. said today it acquired nearly all of the assets of Service Network Inc., a Worcester, Mass., maker of precision grinders.
Edac CEO Dominick A. Pagano called the purchase a diversification that expands its Spindle product line. Privately-held SNI also provides parts and service for Heald grinders.
Terms were not disclosed. Edac said the purchase was financed with working capital and a credit line from TD Bank.
Started in 1984, many of SNI’s customers are in the automotive, aerospace and tool-and-die industries.
