Heckmondwike-based engineering firm 600 Group has acquired Control Micro Systems (CMS), a US manufacturer of laser process machines and systems, in a US$10m deal.
The acquisition will complement 600 Group's existing laser business, enhancing its customer offering by providing increasingly sophisticated, value-add and custom solutions.
CMS provides solutions for integrated laser applications in a range of countries and niche industries, enabling 600 Group to benefit from the US company’s experience in precision medical equipment, pharmaceutical and aerospace sectors, amongst others.
"The acquisition of CMS significantly enhances the group's laser business and marks a further step forward in our strategy of building a global business across increasingly diversified niche markets worldwide," said Paul Dupee, 600 Group’s executive chairman.
He added: "CMS has a long-established track record for delivering high quality customer solutions and will likewise benefit from the group's established sales platform and marketing capability.”
The acquisition was achieved with a total consideration of US$10m, comprising a cash consideration of US$9m and US$1m of 600 Group plc shares.
Founder and sole owner of CMS, Tim Miller, will remain with the company for a minimum period of three years in order to oversee the transition and offer technical expertise.