Tucson's CAID Industries bought by Canadian firm

Tucson-based CAID Industries Inc. has been bought by a Canadian company.

CAID fabricates precision machining services and automation equipment for customers in the mining, energy, aerospace and health-care industries.

Acquired by Toronto-based Samuel, Son & Co., the local operations will remain the same, led by Rob Assenmacher, president of CAID, as a separate business unit with Samuel’s manufacturing division.

“We are extremely proud of what the CAID team has built over the last 70 years,” Assenmacher said. “This is a marriage of two great family businesses. Joining Samuel gives our organization the ability to significantly accelerate our growth while offering a larger portfolio of products to our customers.”

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Founded in 1947, CAID was ranked as one of North America’s top metal fabricators by the Fabricators & Manufactures Association International.

Samuel, Son & Co. was founded in 1855 and is a family-owned business with a network of metal manufacturing, processing and distribution divisions. It has more than 5,200 employees at 100 facilities.

“CAID has developed an outstanding reputation in the industry and its talented team is known for its engineering expertise, commitment to quality and the innovative solutions it provides to customers,” said Rod Crawford, president of Samuel Manufacturing. “Welcoming the CAID team into the Samuel family of companies will allow us to broaden our reach into new markets and strengthen our geographic footprint in the Southwest United States.”

Terms of the sale were not disclosed.