Contract manufacturer Cadence (Staunton, Va.) announced today that it has purchased the assets of Arcor Laser Services, a provider of laser welding, laser cutting, machining, marking, and micro-drilling services.
Financial terms of the deal were not disclosed.
“The addition of Arcor’s laser expertise represents our latest investment in building a broad platform of precision technologies and supply chain services for our customers,” Cadence CEO Alan Connor said in a news release.
“We continue to accelerate our efforts to provide our customers with highly technical solutions to help improve their products and are extremely pleased with the industry-leading laser processing portfolio that Arcor brings to our team,” Connor said.
Founded by Gary Francoeur in 2004, Arcor is located in Suffield, Conn., with two facilities totaling 30,000 ft2.
“We are very excited to join the Cadence team and expand our business,” Francoeur said. “Cadence is a great complement for our current manufacturing capabilities and we serve similar medical device and industrial markets. We see strong opportunities for growth and believe that Cadence has the team and the resources that will enable us to do so.”
Tony Freeman of A.S. Freeman Advisors advised Cadence, and Steve Pappas of Touchstone Advisors advised Arcor on the transaction.
|
Tell Us What You Think!