OMAX Corporation and Hypertherm have signed a definitive merger agreement.
The agreement will see OMAX, a manufacturer of abrasive waterjet systems, become a wholly owned subsidiary of Hypertherm, which manufactures industrial cutting systems and software.
The transaction is expected to close on or around April 9. OMAX’s direct drive pumps, software and applications technologies will combine with Hypertherm’s portfolio of intensifier based pumps and abrasive recycling systems.
Hypertherm says it doesn’t plan to make significant changes to OMAX’s operations, management structure or distribution channels. “The company’s current offices and manufacturing operations in Kent, Washington, where the majority of its 367 associates are located, will remain intact, with no consolidations or reductions planned, in keeping with Hypertherm’s no-layoff philosophy,” Hypertherm stated. Hypertherm also anticipates continuing both the Hypertherm and OMAX waterjet product offerings and brands, as the companies’ technologies and business models balance each other.
“Hypertherm is excited to welcome OMAX to our family and to bring together the leading waterjet R&D and engineering team in the world with our hardworking and talented waterjet team in Minnesota,” said Hypertherm president and CEO Evan Smith. “We are confident the combination of OMAX’s cutting-edge technology and solutions, innovation focus, strong brand name, commitment to customers and excellent culture is a perfect complement to Hypertherm’s waterjet offerings and plasma cutting industry leadership position.”