Cronus Partners LLC is pleased to announce that it acted as financial advisor to Huffman, the established leader in supplying 3D metal printing systems for additive repair of gas turbine components in the energy and aviation markets, in the sale of substantially all of its assets to Optomec, a global leader in production-grade additive manufacturing solutions.
Jeffrey Rubin, Managing Partner at Cronus, commented, “The transaction combines Huffman’s deep penetration in the gas turbine market with Optomec’s broad horizontal market reach across a wide range of industries and hundreds of customers. The synergies extend to complementary product portfolios and technical expertise, which together sets the stage for accelerated growth in both businesses. Cronus is pleased to have been a part of the team achieving this successful divestiture and to have had the opportunity to bring our expertise to bear.”
Headquartered in Clover SC and founded in 1961, Huffman has a rich history as an innovative leader in the development and implementation of production laser cladding and welding systems, multi-axes profile grinders, and abrasive waterjet machines. The company has an installed base of 1,000 machines and its solutions are qualified for the production and repair of mission critical components across industries including aerospace, power generation and medical device manufacturing.
Optomec is a privately-held, rapidly growing supplier of additive manufacturing systems. Optomec’s patented Aerosol Jet Systems for printed electronics and LENS 3D Printers for metal components are used by industry to reduce product cost and improve performance. Together, these unique printing solutions work with the broadest spectrum of functional materials, ranging from electronic inks to structural metals and even biological matter. Optomec has more than 300 marquee customers around the world, targeting production applications in the electronics, energy, life sciences and aerospace industries.
About Cronus Partners
Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Cronus Partners is an independent investment banking firm that provides financial advisory and other investment banking services. Winner of the New York Association for Corporate Growth’s Boutique Investment Bank of the Year Award, the firm has significant experience in advising both publicly and private companies that can benefit from middle-market transactions.
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