IMG Acquires Applied Fusion
LIVERMORE, Calif., May 29, 2018 (Newswire.com) - IMG Companies LLC (IMG), an Addison Capital Partners portfolio company, is pleased to announce the expansion of the company's capabilities and customer base with the acquisition of Applied Fusion Inc. (AFI), located in San Leandro, California. For customers, vendors and other supply chain partners, this is a seamless transaction as personnel and core capabilities remain intact at AFI.
“Drawing on best practices and the partnership created with management teams of both AFI and IMG, this business combination provides a unique opportunity to vertically integrate, deliver sustainable value to current customers and expand the possibilities with both current and new customers,” said AFI CEO Jeff Musgrove.
“AFI is an engineering-driven manufacturer of critical welded machined components with a well-established organizational culture of quality assurance, reliability and continuous process improvement, and expressly fits our corporate development strategy,” said IMG CEO Kam Pasha. “The integration of electron beam and laser welding, together with close tolerance precision machining, provides our customers with a more efficient manufacturing resource in the verticals we service.”
ABOUT AFI
Founded in 1972, AFI provides manufacturing solutions for high and tight tolerance applications predominately within the medical device, aerospace and defense and semiconductor sectors, including electron beam and laser welding, close tolerance machining, short-run prototype production and R&D services. For more information, please visit www.appliedfusioninc.com.
ABOUT IMG
IMG is a U.S.-based, vertically integrated manufacturer of process sensitive, critical and highly engineered components and consumable parts. The breadth of engineering, together with process controlled and complex precision machining capabilities at IMG, provide OEMs responsive solutions for the manufacture of quick turn, prototype and commercial scale component and consumable parts for semiconductor, aerospace and defense, medical device and energy applications. For more information, please visit www.imgprecision.com.
ABOUT ADDISON CAPITAL
Addison Capital is a private equity investment firm that seeks out partnerships with owners and operators of “smaller” middle-market growth companies, often that are closely held or family-owned businesses, to provide legacy stewardship, liquidity, growth capital and management resources to grow and build the greater enterprise. For more information, please visit www.addisoncapitalpartners.com.
Source: IMG Companies