Adcole Names New President & CEO
The manufacturer of cylindrical coordinate measuring machines appointed Brook Reece to head the company during its acquisition by Artemis Capital Partners.
Posted: August 4, 2014
"We are excited about adding the strategic and operational resources of Artemis to enhance our R&D, sales and marketing, and global operations."
Adcole Corporation (Malborough, MA), a leading manufacturer of special purpose Cylindrical Coordinate Measuring Machines (CCMM) used for measuring engine components such as camshafts, crankshafts, and pistons, as well as sun angle sensors for space satellites, has appointed Brook Reece as the president and chief executive officer of the company.
Reece previously served as the vice president of sales at Adcole Corporation for 20 years and is uniquely qualified to lead the company. “Our heritage is one of innovation and trusted accuracy and our vision is to be the most trusted and valued name in the space and industrial metrology industries. We are presently on an extremely fast product development track in response to the rapid technological changes in engine development. Innovation is our heritage and central to our future business strategy,” stated Reece.
Adcole CCMMs are trusted by hundreds of major automotive OEMs, Tier 1 suppliers, and industrial companies across the world and across all phases of the manufacturing process – from in-line production testing to R&D laboratories. The company is also a leading supplier of high-precision sun sensors, which provide mission-critical positioning and control capabilities to a broad array of Low Earth, Medium Earth, and Geostationary satellites and NASA exploration vehicles.
In addition to its headquarters in Malborough, Adcole serves its customers from locations in Detroit, Michigan, Recklinghausen, Germany, Tokyo, Japan, and Shanghai, China.
Thomas K. MacDonald continues to lead the Adcole Aerospace division. In addition, Douglas H. Vandenberg has joined the company as the chief financial officer, having previously served as an operating partner for Thomas H. Lee Partners.
Adcole, founded in 1957 by Addison D. Cole, the former president and chief executive officer for 57 years who retired at age 95, was recently sold the to Artemis Capital Partners (Artemis; Boston, MA), a private equity firm focused on acquiring and growing differentiated industrial technology companies. Terms of the purchase were not disclosed.
Consistent with Artemis’ investment strategy, Adcole possesses a rare combination of proven performance, outstanding brand recognition and significant growth potential. “Over the past 57 years, this company has built its reputation as the trusted standard for mission-critical measurements across the automotive, industrial, and aerospace markets,” said Peter A. Hunter, a managing partner at Artemis. In partnership with a seasoned management team, we are excited to build upon their heritage of uncompromising quality while investing in a future of unprecedented innovation and growth.”
Brook Reece concurred, “We are excited about partnering with Artemis. By adding their strategic and operational resources, we are now poised for a new era of growth – marked by a renewed focus on R&D, an enhanced sales and marketing strategy, and improved global operations. Most importantly, our customers can count on a seamless transition and our unwavering focus on accuracy, quality, and service.”
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