Oerlikon, Switzerland, announces that it has acquired Primateria AB in Sweden, and has signed an agreement to acquire the assets of DiaPac LLC and Diamond Recovery Services Inc. in the United States. With the acquisitions, the Group continues to add promising technologies and expertise in the field of advanced materials and surface solutions to reinforce and expand its business offering.
DiaPac LLC is an internationally recognized leader in providing high-performance powdered metals, wear resistant surface coatings, and cemented carbides for oil & gas, mining, construction, agricultural, and manufacturing operations.
Diamond Recovery Services (DRS) specializes in providing hard materials and environmentally complementary reclamation services that are applied across a broad spectrum of applications.
With the acquisitions, Oerlikon gains strong complementary knowledge for the manufacturing, processing, application, and recovery/recycling of advanced materials, especially tungsten carbide. It will also benefit from an expansion of market access in the oil & gas, metal matrix composites, and U.S. powdered metal industries.
Primateria is a provider of surface engineering services in Sweden, specializing in pre- and post-treatment solutions for tool optimization. With the acquisition, Oerlikon strengthens its foothold in the gear cutting market, especially in Sweden, and will be able to provide even greater know-how and a broader portfolio of surface treatments to its customers worldwide.
The combined 2016 revenue of the acquired companies is over $10 million and they have a workforce of over 40 employees. The acquisitions underline Oerlikon’s strategy to consolidate its market and technology leadership position in promising areas for its surface solutions business. In doing so, the Group will be able to offer customers a wider, deeper and high-quality portfolio of technologies, materials and services. As part of the Group, DiaPac, DRS and Primateria will be able to leverage the global market reach, innovation competencies and financial power of Oerlikon to bring their products and services to the next level. All parties involved in the acquisitions have agreed not to disclose the purchase prices.
