FROM EMPLOYEE TO OWNER
Mark Cote, a tool maker in Barnet, VT went to work straight out of high school for Netam Corporation (now North Hartland Tool Corporation) for 20 years. Netam served as the parent company for Vermont Mold & Tool Corporation (VMT) where Mark filled the role of General Manager for the majority of his 21 years of employment there. VMT produces precision tooling and fixtures for a variety of industries including test equipment, automotive, aerospace, consumer, firearms, manufacturing and measurement.
“NCIC was terrific. They were very helpful in helping us through the process and establishing the financing we needed.”
Vermont Mold and Tool Owner Mark Cote.
Mark and Darlene Cote had the opportunity to purchase VMT, including the customer base, machinery and tooling. In addition to the transfer of ownership, the business needed to be relocated as well. A facility just down the road in West Barnet, which was previously an auto repair shop, was acquired.
The couple reached out to NCIC for financing who then worked with Wells River Bank and Mark and Darlene to create a complete financing package.
“Mark and Darlene faced a variety of challenges to complete the purchase. I’m glad we were able to help make this deal happen. It allowed them to achieve their dream, while the region was able to keep a precision manufacturer’s business and jobs,” stated NCIC Business Resource Manager David Keenan.
The renovations are complete, equipment is in place and production is underway once again. VMT’s very productive operation now resides in a most idyllic New England setting. Visit their website at: vermontmold.com.