Edac Buys Ebtec Corp for $11M
Aeroparts maker Edac buys Mass. precision metal welder-finisher that helped put men on the moon
Farmington aeroparts maker Edac Technologies Corp. paid about $11 million for an Agawam, Mass., precision metal welder-finisher that helped put men on the moon.
Edac last Friday closed its purchase of privately held Ebtec Corp. with a combination of $1.65 million in Edac stock and the balance in borrowings from TD Bank N.A., authorities said.
Founded in 1963, Ebtec provides advanced precision manufacturing processes and fabrication solutions. It pioneered the development of non-contact, high-energy beam welding technologies with the Apollo space program, authorities said.
Until the purchase, Edac outsourced much of its metal-finishing work to Ebtec, Edac CEO Dominick Pagano said.
Ebtec also makes components and products for semiconductors and medical devices, opening up new markets to Edac, Pagano said.
The deal also includes Ebtec's two production facilities in Massachusetts, which also expands Edac's manufacturing footprint.