Manufacturer Turns 100, Keeps Growing with New Acquisition
CAMBRIDGE, ON — Just in time for their 100-year anniversary, Ingersoll Machine and Tool (IMT), a full service, single source supplier of precision components has acquired Standen’s, a spring and suspension manufacturer.
“The synergies between IMT and Standen’s are staggering,” IMT states. “Both companies have strong connections to the transportation industry, IMT through Ingersoll Axles and their line of air suspensions and heavy duty trailer axles, and Standen’s through their light duty axles and spring suspensions. Together the two companies are able to offer their customers a complete solution for all of their transportation needs.”
IMT started out manufacturing steering gear assemblies for boats and cars in 1914 in what used to be a small soap factory. Then, in 1981, IMT got a 10-year, $100-million federal contract to produce large-caliber ammunition shells.
Calgary-based Standen’s, on the other hand, produces leaf springs, tillage tools, light trailer suspensions and suspension hardware. It has more than 500 employees, three manufacturing facilities and five distribution centres and has been in business since the 1920s. It serves the transportation, defense and agricultural industries.
Standen’s will operate under the transportation group of IMT and will be run by Dean Davenport, the president of the transportation group.