IMG Companies, a portfolio company of Addison Capital Partners since June 2016, has acquired Applied Fusion, a provider of manufacturing services for high and tight tolerance products within the medical device, aerospace and defense and semiconductor sectors.
Applied Fusion’s services include electron beam and laser welding, close tolerance machining, short-run prototype production and research and development. The company, led by CEO Jeff Musgrove (the son of founder Ron Musgrove who passed away in 2010) was founded in 1972 and is headquartered near San Francisco in San Leandro, CA (www.appliedfusioninc.com).
“Applied Fusion 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.”
IMG Companies is a manufacturer of highly engineered components and consumable parts used in semiconductor, aerospace and defense, medical device and energy applications. The business has expertise with a range of materials including aluminum, stainless steel, steel, titanium, copper and other special alloys. IMG is headquartered in Livermore, CA (www.imgprecision.com).
Addison Capital Partners invests in companies with EBITDA of between $1 million and $10 million. The firm is an industry generalist but has a specific interest in specialty chemicals and industrial materials; healthcare and life sciences (specialty pharma, diagnostics and medical devices); and defense and aerospace. Addison Capital Partners is headquartered in West Palm Beach, FL (www.addisoncapitalpartners.com).
© 2018 Private Equity Professional | May 31, 2018