What is Lakes Precision?
Lakes Precision, Inc., established in 1991, is a specialized manufacturer of wire processing perishable tooling. The company's core offerings include cutting and stripping blades designed for a variety of wire processing machines. Lakes Precision distinguishes itself by providing an extensive catalog of standard blade sizes and offering custom blade solutions, with a commitment to same-day shipment for frequently ordered tooling and accessories. Leveraging a global sales and service network, the company extends expert support and innovative tooling applications to clients within the wire processing industry, and has also broadened its manufacturing expertise to serve additional sectors.
How much funding has Lakes Precision raised?
Lakes Precision has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
What's next for Lakes Precision?
With the recent influx of capital from a major strategic investment, Lakes Precision is poised for continued expansion and operational enhancement. This large-scale, late-stage funding suggests a focus on scaling manufacturing capabilities, potentially broadening its product lines, or further developing its global distribution and service infrastructure. The company's established history and specialized niche in wire processing tooling provide a solid foundation for leveraging this investment to solidify its market leadership and explore new growth avenues.
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