Growth Capital News

Economic Development Achievement Award

Growth Capital Corp. is pleased to award PMC Gage, Inc. with its Economic Development Achievement Award. The award is given to a company that received financing through Growth Capital Corp. and have shown excellence in jobs creation, performed well financially and have contributed to their communities through their growth

PMC Gage, Inc. is a premier leader in the manufacture and calibration of high quality gages, metrology equipment and instruments. PMC Industries, Inc. was originally established in 1912 and was acquired by Park Ohio Industries, Inc. The gage and instruments divisions were purchased by Nick Bosworth in 1999. Since the purchase of PMC, by Nick Bosworth, the company has acquired two other companies in related fields.

PMC Gage then purchased a Houston Texas based company, Lone Star Gage & Calibration out of bankruptcy and moved its operations to Willoughby. The corporate name is PMC Gage, Inc. and it operates under the trade names of PMC Lone Star and PMC Mercury. A second acquisition in 2003 was the purchase of Mercury Gage, then located in Detroit, MI. Mr. Bosworth left the Mercury operation in Michigan and maintains a manufacturing presence there at their new location at 6107 Progress Drive, Sterling Hts., MI. The accounting and management is handled out of the new Willoughby Office located at 38383 Willoughby Parkway in Willoughby.

PMC Lone Star and PMC Mercury both manufacture measuring tools and devices. PMC Lone Star is a leading manufacturer of fixed and ground limit plug and ring gages, both plain and threaded and dimensional metrology equipment including the ContouReader™ and SquareMaster™. Full calibration and certification services are offered through A2LA ISO 17025 accredited inspection facilities.

PMC is licensed by API (American Petroleum Institute) to manufacture gages to Spec Q1, and manufacture and certify gages to Specs 5B, 7 & 11B. PMC Lone star ships its products worldwide to a broad range of industries including machine tool, automotive, aircraft, defense, oil and gas exploration, canning, sports equipment and other precision metal working industries.

Revenue has nearly doubled from 2006 to 2007. This growth is a direct result of PMC’s marketing to a global economy resulting in an increase in international and domestic shipments. This increased demand and PMC’s ability to invest several million dollars in state of the art manufacturing technology, enabled the company to re-invent itself and open itself up to new opportunities in foreign markets. PMC Gage has taken companies from bankruptcy and turned them into profitable operations. In order to continue as a market leader, PMC Gage strives to continually upgrade their manufacturing capabilities and improve their technical expertise through continuing education of their employees and implementation of the latest technology. The company has been successful in creating new employment opportunities as well the development of relationships with local vendors throughout the northeast Ohio and Michigan regions.

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