Diversified manufacturing company, EDAC Technologies has purchased EBTEC, a company that provides sophisticated fabrication solutions and precision manufacturing processes to power generation, aerospace, medical, semiconductor and industrial customers. In 2011, EBTEC had $12.6 million sales.
About $11 million was paid as the acquisition price. Of this, $1.65 million was paid in EDAC stock and the remaining balance was financed via TD Bank N.A.
Together with the Apollo Space Program, EBTEC had developed non-contact, high energy beam technologies. Besides the electron beam welding, precision high energy beam processes from EBTEC comprise laser drilling, laser cutting, laser welding, vacuum heat treating, EDM and abrasive waterjet cutting. The company has a wide range of equipment, along with extensive engineering, metallurgy, program management, quality assurance, and in-house finishing potential. The company serves well-known aerospace and industrial original equipment manufacturers.
EDAC Technologies’ President and CEO, Dominick A. Pagano stated that the latest purchase denotes a significant milestone in the company’s growth plans as EBTEC offers advanced capabilities that are essential to produce precision components, most of which were subcontracted to EBTEC by the company. In addition, EBTEC’s fabrication solutions further expand EDAC’s product range with extra parts for ground-based turbines and aircraft engines. EBTEC also develops products that are utilized by medical device and semiconductor manufacturers, and such expertise opens up new market avenues for EDAC. Furthermore, the acquisition also widens EDAC’s production portfolio since the two facilities of EBTEC are near to EDAC’s operations.
Pagano added that EDAC and EBTEC are dedicated to innovation and meticulous execution, and these aspects make both companies to complement each other.
Source: http://www.edactechnologies.com