MML has made a €17.3m investment into Irish based ATA Group to fund the acquisition of the US based SGS Tools’ Bur business.
Led by CEO Peter Cosgrove, the transaction is expected to create a global leader in tungsten carbide bur production and positions the business for further international growth.
MML will hold a 65 per cent stake in the combined business alongside management and FL Partners.
ATA is a global producer of tungsten carbide rotary files, known as burs. Burs are a precision engineered consumable used to fabricate, polish and repair metalwork and are used across industries including aerospace, marine, oil & gas, automotive and power generation.
Based in Cleveland, USA, SGS Tools Group produces tungsten carbide end milling tools and drills plus carbide burs.