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Scott Geller, President GTC Machining, (317) 541-1400

Phoenix Stamping Group Parent, PHX Holdings Acquires Garrity Tool Company

(February 23, 2019, ATLANTA and INDIANAPOLIS) – We are very pleased to announce that on February 1, 2019, PHX Holdings, the newly formed holding company of Phoenix Stamping Group, purchased Garrity Tool Company, an Indianapolis-based precision machine shop. Garrity Tool Company has been renamed GTC Machining (gtcmachining.com).  PHX Holdings, backed by JBA Capital (jba.capital), is a newly formed entity and owner of three entities with over 250 employees combined: GTC Machining, Phoenix Stamping Group (phoenixstamping.com), a metal stamping and fabrication company, and PartWorks, an engineering services company.

Phoenix Stamping is a 33-year-old, veteran-owned family business in the metal stamping and fabrication business with sheet metal and rod products serving primarily the material handling, truck aftermarket and agricultural equipment markets. Phoenix had already experienced significant growth over the past 15 years by maintaining focus on providing value added services for customers in these markets, and that won’t change as a result of this transaction.

The GTC acquisition brings further growth to the PHX family with over 50 employees, new precision machining capabilities in the aerospace and defense markets with AS9100D and ITAR certifications, and the medical device market with ISO13485 certification. It also strengthens the company’s commitment to Indiana and the Midwest with facilities in both Indianapolis and Fort Wayne.

Brandyn Chapman, CEO and majority owner of PHX, has worked in the business since 2001 and will be involved in the GTC Machining business and supporting its growth. Scott Geller, currently CEO of PartWorks, will be joining the GTC Machining team as President. Scott brings over 20 years of experience managing manufacturing and manufacturing technology businesses.  Phoenix Stamping Group, with the added capabilities and resources of PHX, will be positioned to serve your needs as never before.

For more information about Phoenix Stamping Group, go to www.phoenixstamping.comor contact Brandyn Chapman, CEO, or Royce Baker, VP Sales, at (404) 699-2882. For more information on GTC Machining, go to www.gtcmachining.comor contact Scott Geller at (317) 541-1400.

Who is PHX Holdings? PHX Holdings is a newly formed entity that owns Phoenix Stamping Group, Garrity Tool (renamedto GTC Machining) and PartWorks with over 250 employees in Georgia and Indiana. Phoenix Stamping Group, the largest division of PHX Holdings is a successful, 33-year old family-owned business founded by Bill Chapman in 1986. His son, Brandyn has been involved in the company since 2001 and assumed the role of CEO in 2005. Phoenix Stamping is in the metal stamping and fabrication business with sheet metal and rod products serving primarily the material handling, truck aftermarket and agricultural equipment markets. The company currently has over 200 employees and has grown sales by 6x over the past 15 years.

PartWorks is a recent startup division of PHX Holdings that originally provided design and prototyping services and in 2018 decided to focus on research and development of a proprietary, patent-pending, fastener system (including installation tooling) focused on the commercial and military aerospace markets.

All the PHX companies are owned by a partnership between Brandyn and JBA Capital, a Columbus, GA based investor group focused primarily on small-midsized manufacturing companies. PHX is based in Atlanta, GA and currently has facilities in Atlanta, GA and Ft. Wayne, IN. Phoenix Stamping’s website is: http://phoenixstamping.com. JBA Capital’s website is: http://jba.capital.