Upon the closing of the transaction, expected on or around 9 April, 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 a significant 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,” says John Cheung, co-founder and CEO of Omax. “Together, we had been planning for the future of Omax for some time. We wanted to partner with a company that shared our values and vision; 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 president and CEO Evan Smith adds: “Hypertherm is excited to welcome Omax to our family and bring together the world’s leading waterjet R&D and engineering team with our hard working and talented waterjet team in Minnesota. We are confident that 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 technology. It enhances our strategy of delivering cutting solutions that put customer needs first.”
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.