Walter Surface Technologies on Monday announced the acquisition of two companies, cutting tools brand Drillco, and Triumph Twist Drill, a manufacturer of tooling and drilling solutions.

“We are very excited to welcome both Drillco and Triumph to the Walter family. Drillco brings a solid distribution network and product expertise that will allow us to continue our mission to help our customers work better. This is complemented by Triumph’s state-of-the-art manufacturing facility of quality cutting tools. Walter is always looking to provide solutions that answer the needs and challenges facing end-users in the metalworking industry. Now, with these two acquisitions, we can help our customers to be more productive with durable products for a broad range of applications,” says Marc-André Aubé, CEO of Walter. “This transaction is an unequalled opportunity to build up our activities in the North American market as we continue to evaluate other growth strategies, namely through accretive acquisitions,” he added.

Following this transaction, both Drillco and Triumph will continue to operate under their own respective brands. The transaction is effective immediately, and activities for both customers and suppliers remain unchanged, according to Walter Surface Technologies.