The acquisition further strengthens the company's leading position in the digital finishing market.
Kongsberg Precision Cutting Systems (Kongsberg PCS) is pleased to announce the acquisition of MultiCam, Inc., a U.S. manufacturer and distributor of CNC cutting machines and digital finishing processes.
The acquisition of MultiCam, including its U.S. operations and sales offices in Canada and Germany, expands Kongsberg PCS' market reach and customer base in North America and Europe, and creates the world's first diversified supplier of digital finishing and CNC cutting machines.
Stuart Fox, president of Kongsberg PCS, said, "This is a monumental day for Kongsberg and MultiCam. Bringing our companies together to drive best-in-class cutting and finishing processes will be a tremendous advantage to our global customer base. Following the completion of the agreement, I am excited to begin integrating our businesses and exploring new markets."
News of the acquisition comes just five months after Kongsberg PCS was established as a standalone business following its acquisition by OpenGate Capital. OpenGate Capital equity partner Julien Lagrèze said, "We recognized the importance of digitalization for this business and developed an investment thesis that includes growing Kongsberg PCS through innovation and complementary investments. With this strategic combination, Kongsberg PCS gains greater scale and expands its reach to a broader, global customer base with new products and services."
Stuart Fox added: "Since 1965, the Kongsberg name has been synonymous with innovation. Our systems have led the industry in delivering accuracy, reliability and quality over seven decades, and with our owners' investment we have a roadmap that will undoubtedly take this robust company to a new level. MultiCam shares this ambition and, like Kongsberg, the company has a loyal and valued team who have been with the company for many years and have helped to build and shape it into what it is today.
"At Kongsberg PCS, we are excited about developing and expanding the product portfolio and creating new opportunities to grow our tooling and consumables offering. In addition to strengthening our hardware offering, we are also planning routes into new markets, in areas that we know are currently underserved and will benefit from our market-leading solutions. MultiCam has an extraordinary market reach with its range of CNC milling, laser, plasma, water jet and knife cutting machines, and we are delighted to welcome MultiCam to the Kongsberg family."
Founded in 1989, MultiCam provides innovative CNC cutting solutions for a multitude of industries and applications ranging from sign making to digital finishing, aerospace to automotive, sheet metal to steel processing, hardwood to cabinetmaking, thermoforming trimming to plastics fabrication.
Commenting on the acquisition, MultiCam, Inc. CEO David J. Morse added, "At MultiCam, we have worked for more than 30 years to diligently build a world-class organization in the areas of cutting focused on routing, manufacturing and digital finishing. The MultiCam brand is synonymous with quality, durability and ease of use. We are excited to join forces with Kongsberg, which has built an exceptional global brand and culture that directly aligns with what we have built at MultiCam.
"It has always been my goal to provide the necessary scale for MultiCam to truly become one of the world's leading cutting companies in all three categories of CNC cutting. The combination of Kongsberg's 50 years of outstanding history in digital finishing and more than 12,000 installed machines, along with MultiCam's more than 14,000 installed machines, strengthens our position in the global market. I look forward to working hand-in-hand with Kongsberg's great leadership team to build a world-class cutting solutions provider. Together we are stronger.
The company will continue to operate under the MultiCam name within Kongsberg Precision Cutting Systems, with David J. Morse joining the senior Kongsberg PCS team and will continue to lead the MultiCam business.