Lapmaster announces its acquisition of Peter Wolters
Mount Prospect, IL - June 6, 2014 - Lapmaster Group Holdings LLC, a leading supplier of high-precision equipment and services for lapping, polishing, grinding, and honing, announced today that it has acquired Peter Wolters GmbH, a provider of machine tools and systems for high-precision surface processing. Headwaters MB, a middle market investment banking firm, advised Lapmaster on the transaction.
"This merger of complementary market leaders will create an even stronger global player with unparalleled technical capabilities in the industry," said Brian Nelson, President and CEO of Lapmaster. "The team of 600 professionals in the combined entity will provide the level of service and support that customers have come to expect from Lapmaster and Peter Wolters across Europe, Asia and the Americas."
CEO of Peter Wolters, David Celli, further commented, "This combination provides a clear choice for end-users globally that require micron-level surface finishing solutions for the most stringent and demanding applications in consumer electronics, prime wafer and general industries. We look forward to working together over the coming years." Since 1948, Lapmaster has solved the most challenging precision surfacing problems. With over 65 years of experience, Lapmaster has a proven history of successfully developing cost effective processing solutions for virtually any application. Terms of the acquisition were not disclosed.
Lapmaster International is an industry leader in precision surfacing solutions. Since 1948, Lapmaster has a proven history of successfully developing cost effective processing solutions for the fine grinding, advanced materials, precision optics, bore honing and finishing, lapping/polishing and metallographic markets through an expanding network of sales and services offices located throughout the world. The Company's 30,000 installed systems across 5000+ customers utilize micron-sized abrasive particles to remove microscopic material for various end-user precision finishing applications. Lapmaster is headquartered outside Chicago, IL, employing over 250 people across six manufacturing facilities on three continents. For more information, visit http://www.lapmaster.com/.