Hypertherm Acquires AccuStream, Maker of Waterjet Cutting Products
Hypertherm, a U.S.-based manufacturer of advanced cutting systems, today announced the acquisition of AccuStream, a Minnesota-based manufacturer of waterjet cutting products. On the one hand, the acquisition helps advance Hypertherm's growth strategy: the company is committed to providing customers with the best cutting technology (including plasma, laser or waterjet) for their specific cutting application needs, complemented by advanced controls and software products to improve system performance and ease of use. On the other hand, AccuStream and its customers will have access to Hypertherm's extensive engineering resources and global infrastructure. Dick Couch, Founder and CEO of Hypertherm, said: 'AccuStream's core values u200bu200band relentless pursuit of producing reliable, high-precision cutting products make the company a perfect fit for Hypertherm. We believe that waterjet cutting is a great addition to Hypertherm's existing plasma cutting. As a perfect complement to fiber laser cutting technology, we look forward to working with AccuStream to enhance the cutting capabilities of waterjet technology.” Eric Chalmers, co-founder and president of AccuStream, said: “Hyperther’s global sales and service infrastructure is very conducive to expanding our waterjet technology. Sales and support network for knife-cutting products. I'm also excited to join a company that values u200bu200bits team so seriously and is so focused on developing market-leading technology.' Hypertherm has no plans to make any major changes to AccuStream's business structure. All operations, including manufacturing, will remain in New Brighton, Minnesota, and Hypertherm has no plans for layoffs or mergers. In addition, the Hypertherm Program provides AccuStream employees with a full range of Hypertherm benefit plans, including a profit sharing plan and a fully participating Hypertherm employee stock ownership plan. The transaction was completed by acquiring all of Accustream Inc.'s material assets and assuming certain liabilities. Financial details of the transaction were not disclosed. AccuStream Inc. manufactures, sells and provides quality engineering management of high pressure waterjet cutting components and replacement parts designed to optimize system performance and reduce user costs. Featuring the company's exclusive Advanced Intensifier Technology™ (AIT) technology, the AccuStream A and AS series of waterjet booster pumps are widely recognized for their reliability and cost-effective performance. AccuStream replacement parts are known for their superior quality and are available for all major brands of waterjet cutting tables. Hypertherm designs and manufactures advanced cutting products, and these systems are used in industries such as shipbuilding, manufacturing and auto repair. The Hypertherm product line includes handheld and mechanized plasma systems and consumables, fiber laser and waterjet cutting products, CNC motion and height controllers, and CAM cutting software. Hypertherm systems are trusted for their superior performance and reliability, helping hundreds of thousands of businesses improve productivity and profitability. Headquartered in New Hampshire, Hypertherm has built a reputation for cutting innovation for more than 40 years since the invention of waterjet plasma cutting technology in 1968. Consistently rated as one of the nation's best places to work, Hypertherm is an employee-owned company with more than 1,300 employees and sales and service offices and partners around the world.