Hypertherm Inc., Omax Corp. close merger agreement

KENT, Wash. and HANOVER, N.H.—OMAX Corporation, a manufacturer of abrasive waterjet systems, and Hypertherm, a U.S. based manufacturer of industrial cutting systems and software, today announced the successful closing of a previously announced agreement to establish OMAX as a wholly-owned subsidiary of Hypertherm.

The agreement, first announced on March 20, formally combines OMAX’s industry leading direct drive pumps, software, and applications technologies with Hypertherm’s complementary portfolio of intensifier-based pumps and abrasive recycling systems to form the industry’s leading waterjet technology offering.

“As one of the world's top waterjet manufacturers, we are excited to officially join forces with a company that shares our values and vision to deliver the industry’s broadest and most technologically advanced line-up of waterjet products,” said OMAX co-founder and CEO John Cheung. “The Hypertherm culture and business philosophy is remarkably similar and complementary to OMAX, and I have no doubt, the company I founded will keep a keen focus on the needs of our valued customers, as we have done for the past 25 years. The OMAX Corporation, and all it stands for, is in great hands with a very bright future ahead of it.”

“We are confident the combination of OMAX and Hypertherm will advance our strategy of delivering diverse, technology-driven cutting solutions focused on dramatic improvements in customer outcomes. In uniting with OMAX, Hypertherm can combine the strengths of two highly talented engineering groups—OMAX engineers in Washington state with our waterjet group in Minnesota—to accelerate new waterjet technologies to market,” said Hypertherm president and CEO Evan Smith. “We have great respect for OMAX and its products and look forward to working closely with the OMAX team to build upon its founding legacy.”