Senco now operates as part of Kyocera’s Global Cutting Tool Division and reports to Ken Ishii, a director, senior managing executive officer and general manager of the Corporate Cutting Tool Group.
Senco’s global headquarters will remain in Cincinnati and its staff will remain in place to lead the transition to new ownership.
“We expect this acquisition to strengthen our new product development capabilities, bolster our ability to provide innovative fastening solutions to a wider range of customers and enhance our global distribution network,” said Ben Johansen, CEO of Senco, in a statement.
Senco was owned by Chicago-based Wynnchurch Capital for eight years. During its ownership, Senco revenue “more than doubled,” according to a statement from the company. The terms of the sale were not disclosed.