Hypertherm Acquires Waterjet Leader OMAX
By Metal Center News Staff
on Mar 20, 2019
Hypertherm has strengthened its position in the waterjet cutting market with the acquisition of OMAX. The transaction is expected to close in early April.
Upon completion of the deal, Kent, Wash.-based OMAX will become a wholly owned subsidiary of Hypertherm, Hanover, N.H. OMAX’s direct drive pumps, software, and applications technologies will combine with Hypertherm’s complementary portfolio of intensifier-based pumps and abrasive recycling systems, to form the industry’s leading waterjet technology offering.
“When the late Dr. Olsen and I founded OMAX 25 years ago, our goal was to combine new motion control technology with software to create an abrasive waterjet system unlike anything else on the market. We more than succeeded, creating one of the world’s top waterjet manufacturers,” said John Cheung, co-founder and CEO of OMAX. “In planning for this future, we wanted to partner with a company that shared our values and vision.”
“Hypertherm is excited to welcome OMAX to our family and to bring together the leading waterjet R&D and engineering team in the world with our hardworking and talented waterjet team in Minnesota,” said Hypertherm president and CEO Evan Smith. “We are confident the combination of OMAX’s cutting-edge technology and solutions, innovation focus, strong brand name, commitment to customers, and excellent culture is a perfect complement to Hypertherm’s waterjet offerings and plasma cutting industry leadership position.”
Hypertherm does not plan to make significant changes to OMAX’s operations, management structure, or distribution channels. The company’s current offices and manufacturing operations in Kent, Washington, where the majority of its 367 associates are located, will remain intact, with no consolidations or reductions planned, in keeping with Hypertherm’s no-layoff philosophy. Hypertherm also anticipates continuing both the Hypertherm and OMAX waterjet product offerings and brands, as the companies’ technologies and business models balance each other.