Based in Ohio, ATSCO
manufactures and distributes pneumatic tools and parts and it will be a wholly-owned subsidiary of the company's Hy-Tech Machine Inc, besides, the company believes that this acquisition will be immediately accretive to earnings.
According to Grant Greenspan and Michael Heaner of the Kaufman Organization, who represented the landlord in the transaction, Atsco signed a seven-year lease at the building.
Alan Coleman, CEO of Atsco, believes that more footwear tenants are coming to the area very soon.
ATSCo observes the lack of availability of skilled security workers could have a detrimental impact on business.
The reason is simple, says ATSCo: competition from offshore helpdesk services.
P&F Industries acquired ATSCO
through a newly-formed subsidiary and the business will now become a unit of its metal parts and assemblies production division Hy-Tech Machine Inc.