Okabe Co., Ltd. Announces the Acquisition of Vimco Manufacturing
TOKYO, JAPAN, October 7, 2021 – Okabe Co., Ltd. (TSE:5959) (“Okabe”), announced today that it has acquired Vimco Manufacturing from Vimco, Inc. Vimco Manufacturing is now under the name of OCM Manufacturing and will be under the direct management of OCM Inc., Okabe LTD’s direct U.S. subsidiary based in Grayslake, IL.
Andy Cramer, President of OCM Inc., said, “Vimco has been an outstanding partner to OCM for over a decade now and with this acquisition, OCM will become a leader in manufacturing to complement its sales and distribution strategy. Vic Maggitti and his team have made massive investments in their manufacturing business that will position OCM for tremendous growth over the next decade and beyond.”
Ray Sullivan, Vice President of Sales and Marketing added, “We are excited to solidify our longstanding partnership with Vimco Manufacturing and look forward to achieving our vision of becoming the recognized leader in all of our key market segments. Business is all about coming together with good people to provide our collective teams with opportunities and make our customers successful.”
Vic Maggitti, Owner of Vimco, said, “I am proud of what our team has accomplished over sixty years and our success has come from our dedicated employees with their customer-first mentality. We chose OCM as the buyer of Vimco Manufacturing because of our longstanding partnership, mutual trust, and like-minded approach. OCM is focused on its people and customers and there is no better company to entrust the legacy of Vimco Manufacturing with than OCM.”
About Vimco Manufacturing
Vimco Manufacturing, based in King of Prussia, PA, specializes in the manufacturing of concrete construction products such as bar supports, snap ties, coil ties, dowel baskets, and wire mesh for the commercial/industrial, residential, and heavy highway segments of the construction industry. The company has grown rapidly since 2010 through the addition of state-of-the-art manufacturing equipment and an expanded geographic footprint. Vimco Distribution, a subsidiary of Vimco Inc., is not part of the acquisition and will remain as a separate entity under Vimco Inc. Vimco Distribution will continue to provide Concrete Accessories and Formwork Rentals and Sales in the Mid-Atlantic Region.
For additional information, go to https://www.vimcoinc.com.
About OKABE Co., Ltd.
Okabe, based in Tokyo, Japan, is a full-service manufacturer and distributor of concrete construction supplies, various fasteners, lead fishing sinkers, and lead battery terminals. Through capital investment and strategic partnerships, Okabe has achieved sales of over half billion dollars and employs nearly 2,000 people worldwide. Okabe is a recognized leader in the construction industry in Japan with a heavy focus on forming products, metal bar supports, and seismic-related patented products. The strategic acquisition of Vimco Manufacturing reinforces Okabe’s aggressive growth in the U.S. market, providing complementary manufacturing capabilities to Okabe’s U.S. subsidiary, OCM Inc.
For additional information, go to https://www.okabe.co.jp.
About OCM Inc.
OCM Inc., based in Grayslake, IL, was founded in 2002 as a direct U.S. subsidiary of Okabe Co. Ltd., with a primary focus of developing the forming segment of the construction industry. OCM services traditional forming dealers through its growing sales and distribution network. Over time, OCM has broadened its product offering and increased inventory levels to support its key dealers regionally and nationally. OCM has also expanded its target markets to include rebar fabricators and post-tension suppliers with a complete line of metal and plastic bar supports.
For additional information, go to http://www.ocm-inc.com.