EDAC Technologies Corp., a specialty aerospace manufacturer, has bought EBTEC Corp. in a deal estimated at $11 million. EBTEC is a privately owned Massachusetts manufacturer and fabricator also concentrated in the aerospace sector, but supporting customers in power-generation, industrial products, semiconductor, and medical equipment markets, too.
About 15% of the purchase price, or $1.65 million, will be paid with EDAC stock, the latter company explained. EBTEC had been privately held. EDAC pointed out that the acquisition with “efficiently expand” its manufacturing presence, as EBTEC's two plants in Agawam, MA, are near to its own Farmington, CT, operations.
EBTEC is a company that pioneered non-contact, high-energy beam welding as a manufacturing process beginning in 1963, particularly in projects involving NASA’s Apollo program. Now, along with electron-beam welding, EBTEC offers laser welding, laser cutting, laser drilling, EDM, vacuum heat-treating, and abrasive waterjet cutting.
EDAC Technologies provides design and manufacturing services for commercial and military aircraft parts and systems, including jet engine parts, special tooling for manufacturing, gauges and components used to manufacture, assembly and inspect jet engines. For industrial markets, it supplies high-precision fixtures, gauges, dies and molds, as well as design, manufacture and repair of precision spindles.
"This acquisition represents an important step forward in our growth strategy,” EDAC president and CEO Dominick A. Pagano, said. “EBTEC gives us highly complementary and advanced capabilities that are required for the manufacture of our precision parts, many of which we formerly outsourced to EBTEC.
“EBTEC also fabricates finished components, which immediately expands our product line with additional parts for aircraft engines and ground-based turbines, markets we currently serve,” he continued. “In addition, EBTEC makes components and products used by manufacturers of semiconductors and medical devices, which opens up new markets to EDAC.”