OMAX Corporation, a manufacturer of abrasive waterjet systems, plans to join forces with Hypertherm, a US based manufacturer of industrial cutting systems and software, following the signing of a definitive merger agreement that establishes OMAX as a wholly-owned subsidiary of Hypertherm. Upon the closing of the transaction, expected on or around April 9, OMAX’s industry leading 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.
Evan Smith, President and CEO, Hypertherm, said, “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. 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. It enhances our strategy of delivering cutting solutions that put customer needs first.”
John Cheung, co-founder and CEO of OMAX, added, “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. Together, we have been planning for the future of OMAX for some time. In planning for this future, we wanted to partner with a company that shared our values and vision. We wanted a company that would protect our culture, provide stability for our employees, and give our customers products and services consistent with our mission statement.”
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.
Owner of the OMAX, MAXIEM, GlobalMAX, and ProtoMAX brands, the Kent (Washington) based OMAX Corporation provides a comprehensive selection of JetMachining Centers that feature intuitive software controls and incorporate the most efficient pump technology available. In developing its machines, the company designs, manufactures, assembles and tests components as a complete system to ensure optimum performance. The company also has the most comprehensive service and support network in the waterjet industry to keep its customers ahead of the manufacturing curve.