Hypertherm Acquires AccuStream

This 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 substantial engineering resources and global infrastructure. “Their core values and focus on building reliable, highly precise cutting products makes that company a perfect fit for us,” said Hypertherm founder and chief executive officer Dick Couch. “We believe waterjet cutting is an excellent complement to our existing plasma and fiber laser technologies and look forward to working together to advance the capabilities of waterjet technology.”

“Their worldwide sales and service infrastructure is ideally suited to expanding the availability and support of our waterjet products,” noted Eric Chalmers, the co-founder and president of AccuStream. “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.

Hypertherm systems have been trusted for performance and reliability resulting in increased productivity and profitability for hundreds of thousands of businesses dating back more than 40 years, to 1968, with its invention of water injection plasma cutting. The associate-owned company, consistently named one of the best places to work in America, has more than 1,300 associates along with operations and partner representation worldwide. www.hypertherm.com