DTG Announces the Acquisition of Contour by the OSG Corporation
Diamond Tools Group B.V. (“DTG”) is pleased to announce that it has entered into a share purchase agreement concerning the acquisition of its subsidiary Precision Tools Holding B.V., the global leader in ultra-precision diamond point cutting tools, by OSG Europe S.A, a subsidiary of the OSG Corporation (“OSG”). Financial terms of the transaction are not disclosed.
Precision Tools Holding B.V. consists of Contour Fine Tooling and Technodiamant (together “Contour”) and is known for its precision diamond cutting tools for various optical applications, including spectacles, contact lenses, intra-ocular lenses and electro-optics. Contour offers a complete product portfolio comprising diamond turning and milling tools with exceptional tolerance levels. Being a truly global company, Contour serves a loyal customer base across the EMEA, Americas and Asia regions, and has long-standing partnerships with industry leaders.
With the acquisition of Contour, the OSG Group will further expand its presence in the field of micro-precision machining and accelerate its global growth. The merger will lead to the acquisition of new customer segments and the latest in diamond tool grinding technology. As the new shareholder, OSG will support Contour’s management team in realizing its business ambitions and further develop and grow Contour as the leading manufacturer of ultra-precision diamond cutting tools.
Bob Cassin, CEO at Contour, commented: “We are excited about this new chapter for Contour. Partnering with the OSG Corporation will allow us to leverage their extensive expertise and resources to further enhance our product offerings and market reach. We look forward to a prosperous collaboration that will enable us to meet the evolving needs of our clients and maintain our leadership in the industry. I would also like to extend our gratitude to Torqx for their invaluable support over the past years.”
Adriaan Bol, Partner at Torqx Capital Partners, stated: “Contour has strongly developed in terms of its production capabilities, quality, service and innovation and is in a better position than ever to serve its formidable customer base. It has been an honour to support Bob and the entire Contour team in their journey to become the global leader in diamond cutting tools. We are confident that Contour will continue to thrive under the guidance of the OSG Corporation, and we look forward to witnessing their future achievements.”
Hideaki Osawa, Head of Europe at OSG Europe S.A., added: “We are highly impressed by Contour’s technological capabilities and market leadership. This acquisition aligns perfectly with our strategic vision to expand our presence in the precision cutting tools market. We are eager to work closely with the talented team at Contour to explore new opportunities and drive innovation in the industry.”
For this transaction, DC Advisory acted as corporate finance advisor to Contour, Loyens & Loeff acted as legal advisor, Deloitte provided the financial and tax vendor due diligence, and OC&C assisted in commercial vendor due diligence.
About Contour
Contour is a global leader in ultra-precision diamond cutting tools, specializing in lenses for various optical applications. With 40 years of expertise, Contour provides state-of-the-art tools known for their accuracy and durability, catering to industries across EMEA, Americas, and Asia. Contour’s commitment to innovation and excellence sets the standard in the precision cutting tools industry. For more information, visit Contour Fine Tooling.
About OSG
OSG Corporation is a leading provider of cutting tools and solutions for the global market. With a strong focus on innovation and quality, OSG delivers cutting-edge products that meet the diverse needs of industries worldwide. For more information, please visit OSG Corporation.