The acquisition of MultiCam, including its operations in the U.S. and sales offices in Canada and Germany, expands Kongsberg’s market reach and customer base across North America and Europe and creates a diversified provider of digital finishing and CNC cutting machines.
Stuart Fox, Kongsberg PCS President, said, “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 recognised 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.”
Fox added, “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.”
The company will continue to operate under the MultiCam name within Kongsberg Precision Cutting Systems, with David Morse, CEO, joining the Kongsberg PCS senior management team and continuing to lead the MultiCam business.