A Lincoln manufacturing company has purchased a Beatrice-based competitor.
IntoMetal and its owner, Randy Kinney, recently bought Precise Fabrication, which is located in Beatrice's industrial park.
Terms of the deal were not disclosed.
Kinney said Precise Fabrication will remain in Beatrice under the same name, and he’s wasting no time growing the operation.
“We’ve already got right at about $1.3 million worth of new equipment that is on order to be delivered here in the fourth quarter, primarily coming in in October,” Kinney said. “We’re looking at having additional conversations that may require more equipment and resources. With one of the projects we’re looking at we would have to add on to the building. We’ll see if that comes through here before the end of the year.”
Precise Fabrication currently operates out of a 41,000-square-foot facility and has 25 employees.
The business was started 17 years ago and was sold by former owner LeRoy Janzen, who is staying on at Precise Fabrication for at least a year to ease the transition.
Janzen said he decided to sell the company so he can retire and spend more time with family.
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“Everybody eventually needs to decide if they’re going to stay in business or if they’re going to sell it and get out of business,” Janzen said. “I’m at the age that it was an opportunity for me and it felt like it was the right time for me to make a change in my life.”
Janzen and Kinney have known each other for around a decade and described their companies as “friendly competitors” that have many common clients, including Exmark in Beatrice.
The metal fabrication company supplies companies with components for their own products, like Exmark’s mowers.
“They may not have the fabrication or finishing equipment that they would need in house and so they come to companies like Precise Fabrication or IntoMetal to have us make parts for them,” Kinney explained. “We’ll make everything from a simple laser-cut part to full assemblies. We can do as much of the manufacturing as our customers need us to do.”
Janzen started Precise Fabrication in 2001 with two partners, who he eventually bought out in 2010.
Kinney said he felt it was important not only to keep the building based in Beatrice, but also to keep the Precise Fabrication name.
“LeRoy’s name and the name of Precise Fabrication have a great reputation,” he said. “As part of the agreement we wanted to be able to continue to use that name with our customers and employees so that this is their identity. This is who they’ve worked for for years and we want to keep that.”