Carpenter Technology Corporation has acquired LPW Technology (LPW), a company immersed in the development and supply of advanced metal powders and powder lifecycle management solutions to the additive manufacturing industry, for approximately $81 million. LPW is based in Widnes, Cheshire, UK, with additional processing operations near Pittsburgh, PA. LPW employs approximately 80 people.
“Our aggressive development in key aspects of additive manufacturing (AM) demonstrates our commitment to build on our industry-leading position in this space,” says Tony R. Thene, Carpenter’s president and chief executive officer. “The acquisition combines LPW’s metal powder lifecycle management technology and processes with our technical expertise in producing highly engineered metal powders and additively manufactured components.”
“LPW’s innovative platforms and enabling technology further solidify Carpenter’s position as a preferred provider of end-to-end next generation Additive Manufacturing solutions,” says Phil Carroll, LPW’s founder.
Carpenter’s additive portfolio, including recent investments in Puris, a titanium powders producer; CalRAM, a company in electron beam and laser powder-bed fusion additive manufacturing services, and construction of an Emerging Technology Center in Athens, AL, represent a significant force positioned to capitalize on the rapid AM growth.
Carpenter Technology Corporation is a producer and distributor of premium specialty alloys, including titanium alloys, nickel and cobalt-based superalloys, stainless steels, alloy steels and tool steels. Carpenter’s high-performance materials and advanced process solutions are a part of critical applications used within the aerospace, transportation, medical and energy markets, among other markets. Building on its history of innovation, Carpenter’s metal powder technology capabilities support a range of next-generation products and manufacturing techniques, including additive manufacturing and 3D printing.
LPW Technology focuses on the development, manufacturing and supply of ultra-clean metal powders designed specifically for the additive manufacturing industry. LPW’s 98,000-square-foot manufacturing facility in the UK and its value-added processing facility near Pittsburgh, PA, mobilizes its highly differentiated materials design, specification, manufacturing and lifecycle management capabilities.
RSM Corporate Finance LLP served as exclusive financial advisor to LPW Technology Ltd. on the transaction.
Sources: Press materials received from the company.
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