Alloy Engineering, a fabricator specializing in high-temperature and corrosion-resistant alloys, acquired Thermcraft Inc., a manufacturer of thermal-processing equipment. The acquisition of Winston-Salem, N.C.-based Thermcraft fits into Alloy Engineering’s strategy to expand its high-temperature product offering. Berea, Ohio-based Alloy Engineering can combine its expertise in high-temperature alloys with Thermcraft’s expertise in heaters to deliver innovative products to both existing and new customers and markets.
The official announcement was made when Nancy Crafton, widow of former President and CEO Thomas Crafton, shared the details of the acquisition with Thermcraft employees and introduced them to the new owners.
“Selling Thermcraft was easier knowing it’s going to a company that respects its history and values like Alloy Engineering does,” Nancy Crafton said. “Tom would be happy to know there is a bright future for Thermcraft.”