Puris LLC.
Carpenter Technology Corporation has announced a $35 million deal to purchase titanium additive manufacturing powder producer, Puris LLC.
Under the deal, Carpenter, a leading provider of speciality alloys, will acquire Puris’ titanium powder operations and business, additive manufacturing assets, patents and related intellectual property.
“This acquisition will provide Carpenter with immediate entry into the rapidly expanding titanium powder market and is consistent with our strategic focus on strengthening our leadership position in important growth areas,” said Tony Thene, Carpenter’s President & CEO. “Puris brings industry leading technology and processes for the production of titanium powder, additive manufacturing part production capabilities, a talented team, attractive intellectual property, and established customer relationships. The strengths of Puris, coupled with Carpenter’s reputation as an industry leading producer of premium alloys and our global commercial reach, will allow us to further deliver on the growing needs of our customers.”
The deal will allow Carpenter to enter the titanium powder market significantly earlier than previously planned. Operations will continue at the existing site and operate as a functional unit of Carpenter Powder Products, complementing the company's existing powder metallurgy offerings.
Stephen Peskosky, Vice President of Corporate Development at Carpenter added: “The addition of titanium powder to Carpenter’s existing capabilities is significant due to the current and anticipated demand increases from the additive manufacturing industry, which produces mission critical parts supplied to Aerospace and Medical markets, as well as other markets. As we continue to differentiate Carpenter as a solutions provider and market focused company, we believe the expansion of our powder and additive manufacturing capabilities further enhances the value we provide our customers and further expands our long-term growth profile.”
The transaction is subject to customary closing conditions and closing is expected to occur during the quarter ended March 31, 2017.