Florida-based maker of plugs for the marine, automotive and aerospace industries will be integrated into Correct Craft’s Watershed Innovation subsidiary
Milling company Merritt Precision is the latest acquisition by Correct Craft, which says in a company statement that the Florida-based maker of plugs for the marine, automotive and aerospace industries will be integrated into Correct Craft’s Watershed Innovation subsidiary and function as a standalone business.
Doug Keehn and Ben Ousley will continue leading the company as vice president/general manager and vice president of operations respectively.
“As a long-term customer, we know Merritt Precision operates at the highest levels of competency and integrity. Through expanded capacity and new technologies, Merritt Precision will create even greater value in the future as part of Watershed’s vision of creating a better tomorrow today,” said Watershed president Sean Marrero.
Doug Keehn, Merritt Precision vice president/general manager, stated: “As part of Correct Craft, we will continue to provide the high level of quality, service, and confidentiality that customers have come to expect from Merritt Precision. We are also very excited to leverage Correct Craft’s proven platform of cultural and financial resources to fuel our company’s growth.”
“This acquisition is well beyond a typical vertical integration,” says Correct Craft CEO Bill Yeargin. “Merritt Precision will provide Correct Craft a platform that will help us to significantly accelerate our innovation initiatives.”