Turning Archive

Parent company of Jet and Powermatic sold *LINK*

David Walser
While looking for information about Powermatic's new 3520C lathe model, I found a press release announcing that JPW Industries, the parent company of Jet and Powermatic, has agreed to be acquired by Gamut Capital Management, a New York based private equity firm. This may be old news to many of you, but it was new to me.

I have no idea whether this is good or bad for those of us owning or planning to acquire Jet and Powermatic equipment. It may give JPW the capital to accelerate the development of new equipment and to improve customer service. Or, the buyer might believe it can make money by selling off parts of the JPW product lines believing the parts are worth more than the whole. It might be a combination of those two options.

The sale is expected to close by year end.

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