JPW acquires Axiom Tool Group
JPW Industries has acquired Axiom Tool Group. Terms of the transaction were not disclosed.
Founded in 2014, Axiom is a marketer, designer and distributor in the U.S. of computer numerical control (CNC) machines and accessories sold under the Axiom brand. Axiom’s operations in Westerville, Ohio, including warehousing, customer service and technical service will remain in their current locations.
“Axiom is a natural fit into the JPW family of brands, and we look forward to providing our customers with even greater access to the depth and breadth of high-quality CNC equipment," said Scott Leichtling, CEO of JPW. "Axiom’s leading position in the growing CNC market perfectly complements JPW’s platform capabilities. We are eager to welcome the team, support the growth of the Axiom brand and to leverage JPW’s supply chain and customer service capabilities to improve the overall value proposition to our collective customer base. At the core of this collaboration is JPW’s desire to address a growing need among young, talented makers for machinery that leverages technology to improve accuracy, efficiency, and safety.”
Todd Damon, Axiom’s Founder, will join JPW to support the growth and expansion of the Axiom brand and its position within the CNC category more broadly.
“I am exceptionally proud of the loyal and entrepreneurial team responsible for our growth to date and feel confident that together with JPW’s platform and experience, we are well-positioned to continue to deliver exceptional products for our dedicated customers,” said Damon. “Joining the JPW platform will help us beginning on day one as we enhance our product offerings and attract new consumers while propelling our growth within the CNC market,” Damon continued.
JPW, a Gamut Capital Management portfolio company, is a designer, manufacturer and distributor of branded metalworking and woodworking equipment and specialty shop tools sold under the JET, Powermatic, Wilton, Edwards, Promac and Baileigh brand names
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