Arc Machines, Inc. Announces Acquisition of Exel Orbital Systems Assets.PACOIMA, Calif. -- Arc Machines, Inc. ("AMI" or the "Company") today announced that it acquired certain assets of Exel Orbital orbital Mathematical expression, called a wave function, that describes properties characteristic of no more than two electrons near an atomic nucleus or molecule. An orbital can be considered a three-dimensional region in which there is a 95% probability of finding an Systems ("Exel") of Santa Monica, California For other uses, see Santa Monica (disambiguation). Santa Monica is a coastal city in western Los Angeles County, California, USA. Situated on Santa Monica Bay of the Pacific Ocean, it is surrounded by the City of Los Angeles — Pacific Palisades and Brentwood on the north, , as well as certain intellectual property related to Exel's automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. orbital welding welding, process for joining separate pieces of metal in a continuous metallic bond. Cold-pressure welding is accomplished by the application of high pressure at room temperature; forge welding (forging) is done by means of hammering, with the addition of heat. products. Founded in 1989, Exel designs, produces and markets specialty orbital welding equipment for use in high purity Purity: see Pearl, The. Purity See also Modesty. almond symbol of the Virgin Mary’s innocence. [O.T.: Numbers 17: 1–11; Art: Hall, 14] crystal its transparency symbolizes pureness. and other Tube welding applications and holds several patents and patent applications related to its products. Kevin McGushion, founder and sole shareholder of Exel Orbital Systems, said, "Exel products coupled with the market leadership and customer support of AMI will provide a valuable new offering for orbital welding customers." Following a period of technology transfer, Exel's welding products will be marketed through Exel Orbital Products, a newly formed subsidiary of AMI. By combining Exel's products and technology with that of AMI, a new, easier to use and lower cost orbital welding system will be created. This new product line will bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation). A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz the Company's efforts in emerging markets as well as in several industries where use of automated orbital welding is growing. Mindy Gedgaudas, President of AMI, said, "The addition of Exel to our business supports our long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategic plan to extend our reach into new application areas and markets. We believe Exel's product range and customer base will benefit from the support of AMI's strong domestic and international organization." This acquisition marks the Company's first major investment since being recapitalized by Marwit Capital Partners II, L.P. in January 2008. "We are committed to supporting AMI in its plans for dynamic growth - both in the USA and overseas - through a combination of acquisitions and organic growth," said Matt Witte, Managing Partner of Marwit. He continued, "AMI is a strong, well-managed company that is well-positioned to take advantage of the growing demand for high-quality, high-specification automated orbital welding in a number of rapidly expanding industries." About Arc Machines, Inc. Arc Machines, Inc. ("AMI") (www.arcmachines.com), founded in 1976 by M.E. Gedgaudas, L.V. Reivydas and K. Fukumoto, is the leading worldwide developer and manufacturer of automated orbital welding systems, including power sources, weld heads, arc zone vision systems and related accessories. AMI's equipment is used by a blue chip list of customers around the world in a number of high growth industries including nuclear and fossil-fired power generation, petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. , biopharmaceutical, aerospace and semiconductor. The Company currently maintains four offices and distribution centers worldwide: Pacoima, CA (headquarters); Switzerland; Germany; and the UK as well as regional sales offices in Atlanta, GA; Washington, DC; York, PA; and Columbus, OH. About Marwit Capital Marwit Capital (www.marwit.com) is one of the oldest and most experienced private equity firms in the Western U.S. Founded in 1962, Marwit's investment focus is on lower middle market companies based in the Western U.S., with revenues of $20 to $200 million and enterprise values up to $100 million. Marwit specializes in management buyouts Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. , platform LBO LBO See: Leveraged buyout LBO See leveraged buyout (LBO). acquisitions in partnership with experienced industry executives, recapitalizations, and later stage growth investments. Marwit seeks to invest $10 to $30 million of equity capital per portfolio company, in one or a series of investments. Marwit is currently investing out of Marwit Capital Partners II, a $183.7 million fund. |
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