FabX Industries Inc. acquires Guide Engineering LLC

NuVescor Group is pleased to announce the successful sale of Guide Engineering LLC of Fort Wayne, Ind., to FabX Industries Inc. of Greenville, Mich. Guide Engineering designs and builds high-end automation, assembly and test systems, including robotics, primarily serving automotive manufacturers. FabX Industries is a manufacturing holdings company which provides high-quality, cost-effective and value-added machining and fabrication services for the fenestration, automotive, marine, furniture and recreational vehicle industries. Before the acquisition, FabX consisted of Aquest Machining and LaserTec Sheet Metal Fab, both of Greenville, and Elite Precision Machining of Kalamazoo.

FOR IMMEDIATE RELEASE

Nov. 24, 2020
Media Contact:
Randy Rua
(616) 379-4047

FabX Industries Inc. acquires Guide Engineering LLC

GRAND RAPIDS, MI - Nov. 24, 2020 - NuVescor Group is pleased to announce the successful sale of Guide Engineering LLC of Fort Wayne, Ind., to FabX Industries Inc. of Greenville, Mich.
Guide Engineering designs and builds high-end automation, assembly and test systems, including robotics, primarily serving automotive manufacturers. FabX Industries is a manufacturing holdings company which provides high-quality, cost-effective and value-added machining and fabrication services for the fenestration, automotive, marine, furniture and recreational vehicle industries. Before the acquisition, FabX consisted of Aquest Machining and LaserTec Sheet Metal Fab, both of Greenville, and Elite Precision Machining of Kalamazoo.

Since the acquisition, which was effective Oct. 31, Gopi Ganta has assumed the CEO role at Guide Engineering. His experience is in the engineering, operational and financial sides of business.
Ganta said FabX was interested in Guide Engineering because of synergies between the companies, the experience and skills of Guide Engineering employees and the overall trend toward increased demand for automation among U.S. manufacturers. He and the management team at FabX will bring strategic and business development experience to help diversify and grow the Indiana company, whose capabilities extend far beyond its current automotive focus.

"I'm really excited to be working with Guide Engineering," Ganta said. "With my engineering background, I can provide strategic direction for Guide to pursue opportunities outside of the automotive field."

He noted that FabX can supply machine components to Guide Engineering to improve its quality and service. FabX also can develop automated and robotic systems to manufacture certain marine industry components. FabX also is an ISO 9001-certified company.

Guide Engineering President and former co-owner Scott Taylor agreed that the partnership will allow for many synergies in transferable opportunities and for the continued growth of Guide Engineering.
Taylor said his partners at Guide Engineering, Andy and Lisa Zundel, will step aside as they enter their well-deserved retirement years. Taylor will continue as president of Guide over the next several years. All Guide Engineering's employees will remain on staff with no changes in the Company's core business model, other than pursuing opportunities to diversify in the automation market.
Ganta confirmed that current Guide Engineering staff will remain, and design and control engineering positions will be added.

Guide Engineering will continue to operate under its current name. In a memo to customers and suppliers, Taylor said: "Please take note that we will operate on business as normal with no interruptions to each of you. Our objective is to continue promoting the same expertise, competitiveness, quality, and support as you have come to expect. We look forward to the years to come as we continue our relationship and partnerships."

Guide Engineering was established in 1960 as a design-only Company and expanded in the 1970s to produce single-use special machines. From 1980 to 2000, the Company expanded its focus again to include small assembly cells. Since 2000, the Company has continued to grow as a high-end assembly and automation systems integrator. Guide Engineering has been at the forefront of changing technology, both in the electro-mechanical product realm and in software development. Investment, recruiting and development of a skilled workforce has enabled it to evolve over time to produce larger and more complex systems, including robotics.

About FabX Industries Inc.
FabX Industries, of Greenville, Mich., is a manufacturing holdings company established to provide high-quality, cost-effective and value-added machining and fabrication services for the fenestration, automotive, marine, furniture and recreational vehicle industries. Before the acquisition, FabX consisted of Aquest Machining and LaserTec Sheet Metal Fab, both of Greenville, and Elite Precision Machining of Kalamazoo.

About Guide Engineering LLC
Guide Engineering LLC has been a leader in the design and manufacture of automation, assembly and test systems, including robotics, primarily serving automotive manufacturers for more than 50 years. Based in Fort Wayne, Ind., the Company was founded in 1960. The Company has distinguished itself with a highly skilled workforce applying cutting edge technology.

About NuVescor Group
NuVescor Group, based in West Michigan, is a distinguished mergers & acquisitions service provider that partners with other professional service providers to provide the full array of disciplines needed to have successful and timely business transactions. NuVescor utilizes a proprietary proven process that greatly increases the success rates for business transactions as well as the customer experience. For additional information, please visit www.nuvescor.com.

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