In a joint investment with the Development Bank of Japan, the acquiring company will purchase all of C&A’s shares. The deal is expected to close within the next 30 days. MinebeaMitsumi will own 51 percent and the bank, 49 percent.
C&A was founded in 1969 and employs more than 580 people who work at three northeast Indiana facilities that encompass a total of 700,000 square feet of space. It provides customized products, from design and fabrication through final inspection, for the aerospace, fuel system and industrial markets. It also manufactures surgical implants for spine, knee and hip applications.
The company’s owner is Dick Conrow. The announcement of the sale came from New Hampshire Ball Bearings and made no mention of how the transaction would affect current employees.