FARMINGTON, Conn., June 5, 2012 — EDAC Technologies Corp. announced the acquisition of EBTEC Corp. for $11 million, of which $1.65 million was paid in EDAC stock, with the balance funded by financing through TD Bank NA.
EBTEC provides advanced precision manufacturing processes and fabrication solutions for the aerospace, power generation, industrial, semiconductor and medical markets.
“This acquisition represents an important step forward in our growth strategy,” said Dominick A. Pagano, president and CEO of EDAC Technologies. “EBTEC gives us highly complementary and advanced capabilities that are required for the manufacture of our precision parts, many of which we formerly outsourced to EBTEC.
“This acquisition also efficiently expands our manufacturing footprint as EBTEC’s two facilities in Massachusetts are close to our own operations.”
EDAC Technologies designs and manufactures precision components for aerospace and industrial applications.
For more information, visit: www.edactechnologies.com