Kongsberg Precision Cutting Systems (Kongsberg PCS) announced the acquisition of MultiCam, Inc., a U.S. manufacturer and distributor of Computer Numerical Control (CNC) cutting machines and digital finishing processes.
The acquisition of MultiCam, including its operations in the U.S. and sales offices in Canada and Germany, expands Kongsberg PCS’ market reach and customer base across North America and Europe, and creates the world’s first diversified provider of digital finishing and CNC cutting machines.
Stuart Fox, Kongsberg PCS President, said: “This is a monumental day for Kongsberg and MultiCam. Our businesses coming together to drive best-in-class cutting and finishing processes will deliver a tremendous advantage for our global customer base. Following the completion of the deal I am now 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 stand-alone business after being acquired by OpenGate Capital. OpenGate Capital’s Partner, Julien Lagrèze said: “We recognized the importance of digitization for this business and developed an investment thesis that includes the growth of Kongsberg PCS through innovation and add-on 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 precision, reliability and quality through seven decades, and with the investment of our owners we have a roadmap that will undoubtedly take this robust company to a new level. MultiCam shares this ambition, and just like Kongsberg the business has a loyal and valued team that has been with the company for many years and helped build and shape it into what it is today.
“At Kongsberg PCS, we are excited to develop and expand the product portfolio and to create 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 we know are currently not catered for and will benefit from our market-leading solutions. MultiCam has extraordinary market reach with its range of CNC routers, laser, plasma, waterjet and knife cutting machines, and we are thrilled to now welcome MultiCam to the Kongsberg family.”
Founded in 1989, MultiCam supplies innovative, CNC cutting solutions for a multitude of industries and applications ranging from sign making to digital finishing, aerospace to automotive, sheet-metal to plate-steel processing, hardwoods to cabinet making, thermoform trimming to plastics fabrication.
Commenting on the acquisition, MultiCam, Inc. CEO, David J Morse added: “At MultiCam, we have worked for over 30 years to diligently build a world class organization in the focused cutting arenas of routing, fabrication and digital finishing. The MultiCam brand is synonymous with quality, durability and ease of use. We are very pleased to join forces with Kongsberg who has built an outstanding global brand and culture that align directly with what we have built at MultiCam.
“It has always been my goal to provide the necessary scale to MultiCam to truly become one of the top global cutting companies in all three categories of CNC cutting. Combining Kongsberg’s 50 years of outstanding history in digital finishing and over 12,000 machines installed, together with MultiCam’s 14,000-plus installed machines, strengthens our position in the global market. I look forward to working side by side with the great leadership team at Kongsberg to build a world class global cutting solution 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 Kongsberg PCS senior management team and continuing to lead the MultiCam business.