Milestone Partners has sold Quintus Technologies AB to Kobe Steel for $115 million. Based in Sweden, Quintus is a maker of isostatic presses and sheet metal forming equipment.
VÄSTERÅS, SWEDEN (PRWEB) APRIL 13, 2017
Kobe Steel, Ltd. acquired Swedish company Quintus Technologies AB, the world leader in isostatic presses, from U.S. private equity firm Milestone Partners on April 5. The purchase price was US115 million. Quintus is now a wholly owned subsidiary of Kobe Steel.
Isostatic presses (IP) apply high pressure from all directions at high temperature or room temperature to press-sinter and form metal, ceramic and carbon materials. The presses are widely applicable in the manufacture of high-performance products, such as aircraft parts, power generation turbine blades and semiconductor materials.
Quintus Technologies specializes in the design, manufacture, installation, and support of high pressure systems for sheet metal forming and densification of advanced materials and critical industrial components. Headquartered in Västerås, Sweden, and represented in 35 countries worldwide, the company is the world leader in high pressure technology and has delivered more than 1,800 systems to customers across the globe within industries such as aerospace, automotive, energy, and medical implants.
Quintus Technologies has achieved a strong presence in Europe, the United States and China, primarily in the aerospace sector, which is anticipated to grow.
By acquiring Quintus, Kobe Steel will be able to broaden its lineup of IP products and enter new growth markets. Furthermore, Kobe Steel expects to benefit from the interchange of product menus and from the synergy of manufacturing efficiency and cost reductions through the joint procurement of parts. Targeting the world market, Kobe Steel plans to significantly expand its IP business.
Outline of Quintus Technologies AB
Headquarters: Västerås, Sweden
Plants: Västerås, Sweden and Columbus, Ohio, USA
CEO: Jan Söderström
Established: 1940 (formerly the IP business unit of ABB)
Business: Manufacture, sales and service of isostatic presses and sheet metal forming equipment
About isostatic presses
An isostatic press is a type of press that applies equal pressure from all directions (isostatic pressure) to compress material. The process makes it possible to manufacture products of outstanding quality in terms of uniformity, strength and durability. A hot isostatic press (HIP) applies high pressure, with a gas as the pressure medium, and high temperature. A cold isostatic press (CIP) uses liquid pressure to apply isostatic pressure to the material.
About Kobe Steel
Kobe Steel, Ltd. is a diversified corporation with businesses in the three core areas of materials, machinery and electric power. The materials businesses include steel, welding, aluminum and copper. The machinery businesses consist of industrial machinery, construction machinery and engineering. Electric power supply is the third core business. Kobe Steel has head offices in Kobe and Tokyo, Japan. The Kobe Steel Group, consisting of Kobe Steel and its numerous subsidiaries and affiliates, has over 36,000 employees. More information is available at: http://www.kobelco.com