EDAC buys EBTEC in aerospace manufacturing M&A
EDAC solidifies its foothold in aerospace and industrial laser work, and opens up new markets for medical and semiconductor manufacturing.
Farmington, CT -- EDAC Technologies, a maker of precision components for aerospace and industrial applications, has acquired EBTEC, an Agawam, MA maker of precision manufactured products to several industries including aerospace. The stated acquisition price was $11 million, of which $1.65 million was paid in EDAC stock.
For EDAC, the deal expands its product range in finished components for aircraft engines and ground-based turbines, as well as new markets in medical devices and semiconductor manufacturing, according to president/CEO Dominick Pagano. Also, EBTEC has an extensive array of equipment and substantial capabilities for engineering, metallurgy, quality assurance, program management, and in-house finishing. Furthermore, the deal will expand EDAC's manufacturing footprint -- it already outsourced some work to EBTEC, whose two facilities are near EDAC's operations, he pointed out (Agawam MA is about 35 miles from Farmington CT).
EBTEC offers laser welding, laser cutting, and laser drilling, as well as other material processing services (e.g. electron beam welding, electrical discharge machining, vacuum heat treating, and abrasive waterjet cutting). The company was recently approved to conduct airflow testing on GE turbine engines containing laser-drilled holes. OEMs are increasingly adopting laser drilling for turbine engines and specific airflow inspection processes.
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