Universal Tooling Corporation, a well-known tool and die shop in Gerry, recently changed ownership in June for a significant sum of $300,000. The sale was facilitated with the assistance of the Chautauqua County Industrial Development Agency, highlighting the importance of local economic development initiatives in supporting small businesses. The acquisition of Universal Tooling Corp. by LINC Products & Service, LLC of Frewsburg marks a new chapter for both companies, with potential for growth and expansion in the manufacturing industry.
The Chautauqua County Industrial Development Agency played a crucial role in the sale by approving two loans totaling $225,000 for LINC Products & Service, LLC. This financial support helped facilitate the acquisition of Universal Tooling Corp., allowing the Frewsburg-based company to expand its operations and capabilities in the tooling and manufacturing sector. LINC Products & Service, LLC, a small, Native American-owned business certified as a New York State Minority and/or Women-owned Business Enterprise, specializes in various services including business development/technical sales, supply services for machine tools, tooling, and manufacturing equipment, supply services for raw materials, and subcontract services for manufacturing and construction.
Universal Tooling Corp., the company that was sold, is a full-service production computer numerical control machining business that focuses on injection mold tooling, tool and die, and contract manufacturing services. The sale of Universal Tooling Corp. to LINC Products & Service, LLC represents a strategic move that aligns with the growth and diversification goals of both companies. This acquisition opens up new opportunities for collaboration and innovation in the manufacturing industry, showcasing the potential for synergy between businesses in the region.
In addition to the sale of Universal Tooling Corp., several other notable real estate transactions took place in Chautauqua County during the same time period. One such sale involved TBR Development, LLC of Frewsburg selling a vacant commercial building located at 112-114 E. Second St., Jamestown, to James Holzborn for $45,000. This property, which was previously the location of the Ahlstrom Piano Company from 1875-1926, presents a unique opportunity for redevelopment and revitalization in the area.
Another significant sale during this period was the transfer of 1320 Stebbins Road, Hanover, to Erdle Farm Partnership of Silver Creek for $74,000. Erdle Farm Partnership, known for its blueberry picking farm on Hanford Road in Hanover, continues to expand its agricultural operations with this new acquisition. Additionally, the Upper New York Annual Conference of the United Methodist Church sold 3183 Open Meadow Road, North Harmony, to Brad Lovall for $15,000, marking a change in ownership for a property that was once the Open Meadows Ebenezer United Methodist Church.
Overall, the real estate market in Chautauqua County saw a total of 99 transactions during the specified time period, with several sales exceeding $250,000. The top sales included properties such as 8114 East Lake Road, Westfield, which sold for $509,100, and 8 Canal St., Lakewood, which sold for $424,900. These transactions reflect the diverse range of properties and businesses in the county, highlighting the ongoing economic activity and growth in the region.
In conclusion, the sale of Universal Tooling Corp. and other notable real estate transactions in Chautauqua County demonstrate the dynamic nature of the local business landscape. With the support of organizations like the Chautauqua County Industrial Development Agency, businesses are able to thrive and expand, contributing to the overall economic development of the region. As new owners take the reins of established businesses and properties change hands, the future looks promising for continued growth and prosperity in Chautauqua County.