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PE-backed Shape Technologies buys Aquarese Industries

American Industrial Group-backed Shape Technologies Group Inc has acquired Aquarese Industries, a French maker of advanced waterjet systems. No financial terms were disclosed.

PRESS RELEASE

KENT, WA–(Marketwired – August 02, 2016) – Shape Technologies Group, Inc. (SHAPE), a portfolio company of American Industrial Partners (AIP) and the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions has completed the acquisition of Aquarese Industries.

Aquarese is a leading supplier of advanced robotic waterjet cutting systems and UHP process solutions to the aerospace and automotive industries. Headquartered in Billy-Berclau, France, Aquarese designs and delivers the most advanced waterjet systems in the industry; including advanced robotic waterjet machining and materials processing technologies. Aquarese customer solutions have a proven track record with the world’s leading manufacturers of gas turbines, internal combustion engines and aircraft components.

“In keeping with our strategy to broaden the application of ultrahigh-pressure processes in advanced manufacturing and engineered materials, Aquarese brings a wealth of experience in UHP robotic solutions focused on processing highly engineered materials and advanced manufacturing process solutions” said David Savage, chief executive officer of SHAPE. “A long-time partner to Flow International, a SHAPE portfolio company, Aquarese complements our robotic system capabilities and expands our suite of advanced manufacturing solutions.”

“We are excited to join the SHAPE family,” said Patrick Dargent, chief executive officer of Aquarese. “Aquarese has been integrating Flow’s ultrahigh-pressure technology since its inception and together the companies have successfully executed numerous projects throughout the years. Together with SHAPE, we can provide customers with highly accurate and cost effective solutions throughout the entire product lifecycle in advanced manufacturing environments.”

About American Industrial Partners
American Industrial Partners (“AIP”) is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 65 transactions and currently has more than $3.2 billion of assets under management. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $100 million to $1 billion+. For more information about American Industrial Partners, contact Ben DeRosa, Partner at 212-627-2360, extension 200.

About Shape Technologies Group, Inc.
Shape Technologies Group, Inc. (SHAPE) is the world’s leading developer and provider of ultrahigh-pressure process solutions for advanced manufacturing and materials processing applications. SHAPE companies deliver innovative manufacturing process solutions to customers spanning 100 countries and a broad array of industries. SHAPE subsidiaries include KMT Waterjet, Dynamic Robotic Solutions, H2O Jet, Flow International Corporation, AquaFlow, Tech-Con Automation, Advanced Pressure Systems (APS), ProJet, TOPS, and Aquarese Industries. For more information, visit www.shapetechnologies.com.

About Aquarese Industries S.A.
The French company Aquarese is specialized in High-Pressure Processes and committed to customer performance worldwide through the development and mastery of innovative manufacturing processes. The Company supplies both standard and custom-built solutions to Aerospace and Automotive most demanding applications. For more information, visit www.aquarese.fr.