Kongsberg snaps up MultiCam
Published: 23 August 2021 | No comments yet
Kongsberg's Stuart Fox said that the news will lead to a 'tremendous advantage for our global customer base.'
Kongsberg Precision Cutting Systems has acquired MultiCam, an American manufacturer of CNC cutting machines and digital finishing equipment.
Kongsberg, which was founded in the eponymous Norwegian town in 1965, says that the acquisition, which includes all MultiCam’s American operations and its offices in Canada and Germany, expands its market reach and customer base across North America and Europe and will result in ‘the world’s first diversified provider of digital finishing and CNC cutting machines.’
‘This is a monumental day for Kongsberg and MultiCam,’ said Stuart Fox, president at the former company. ‘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.’
Founded in 1989, MultiCam supplies CNC cutting solutions for a range of industries and applications including signmaking and digital finishing. The company will continue to operate under the MultiCam name within Kongsberg and CEO David J Morse will join the Kongsberg senior management team, continuing to lead the MultiCam business.
The announcement of the takeover comes just five months after Kongsberg itself was established as a stand-alone business, following its own acquisition by OpenGate Capital. Julien Lagrèze, a partner at OpenGate, commented, ‘We recognized the importance of digitisation for this business and developed an investment thesis that includes the growth of Kongsberg through innovation and add-on investments. With this strategic combination, Kongsberg gains greater scale, and expands its reach to a broader, global customer base with new products and services.’