Bourn & Koch, Inc. (“Bourn & Koch” or the “Company”), a leading manufacturer of precision machine tools and related replacement parts and services, today announced that Terry V. Derrico has been named President. Tim Helle, who joined Bourn & Koch in 1985 and has served as President since 1998, will continue to actively drive the Company’s business development efforts and acquisitions strategy as Chairman of the Board of Directors.
Mr. Derrico, who was most recently President & CEO of United Grinding Group North America, brings over 20 years of relevant industry and leadership experience to Bourn & Koch. He has a track record of growing profitable businesses by addressing customer needs and managing complex manufacturing operations. Previously, Mr. Derrico was a Group President within the Industrial Group at The Marmon Group LLC, a division of Berkshire-Hathaway, Inc., and President and CEO of Swiss Industrial Group Holdings, Inc.
Bourn & Koch also announced that Kerry M. Koch has been appointed Chief Financial Officer. Mr. Koch brings more than 30 years of experience to the role, with a heavy concentration in manufacturing highly-engineered equipment and significant experience in mergers and acquisitions. He was most recently the Chief Financial Officer of Elgin Equipment Group, LLC and previously the Chief Financial Officer/Corporate Controller of Paladin Brands.
Mr. Helle, Chairman of Bourn & Koch, stated, “Bourn & Koch is celebrating its 40th anniversary this year and has grown significantly since its formation in 1975. We are excited to have Terry and Kerry join the Bourn & Koch team and believe their leadership skills, wealth of knowledge, and strategic thinking will enhance the organization and enable the Company to accelerate its next stage of growth.”
Mr. Derrico added, “Under Tim’s leadership Bourn & Koch has developed a market-leading reputation for providing innovative solutions to the metal working industry. The Company is well positioned to expand its presence in the global machine tool market, and Kerry and I look forward to working with Tim, the Board of Directors, and the dedicated team at Bourn & Koch to continue to grow the business.”