Hypertherm, Hanover, NH, is getting into the waterjet cutting business with the acquisition of AccuStream, New Brighton, MN, a manufacturer of waterjet cutting products.
The acquisition will advance Hypertherm’s strategy of providing customers with the optimum cutting technology—whether plasma, laser, or waterjet—for their particular cutting application, supported by the company’s control and software products for increased performance and ease of use. At the same time, AccuStream and its customers will receive access to Hypertherm’s engineering resources and global infrastructure.
“AccuStream’s core values and focus on building reliable, highly precise cutting products makes the company a perfect fit for Hypertherm,” says Hypertherm founder and CEO Dick Couch. “We believe waterjet cutting is an excellent complement to Hypertherm’s existing plasma and fiber laser technologies and look forward to working together to advance the capabilities of waterjet technology.”
“Hypertherm’s worldwide sales and service infrastructure is ideally suited to expanding the availability and support of our waterjet products,” says Eric Chalmers, AccuStream’s co-founder and president. “I am also excited about joining a company with such a high level of commitment to its team, and focus on developing market-leading technology.”
Hypertherm does not plan any major changes to AccuStream’s operations. All positions including manufacturing will remain in New Brighton, MN and no workforce reductions or consolidations are planned. In addition, Hypertherm plans to provide AccuStream associates with the full complement of Hypertherm benefits, including profit sharing and full participation in its employee stock ownership plan.
The transaction was structured as a purchase of substantially all of the assets and assumption of certain liabilities of Accustream Inc. Financial terms of the transaction are undisclosed.