FOR IMMEDIATE RELEASE
Date: May 1, 2019
Beth Alltop, Marketing & Communications Specialist
540-248-2200 / email@example.com
STAUNTON – Cadence, Inc. announced today the acquisition of the assets of Arcor Laser Services, LLC. Arcor is a leader in laser processing, providing customers with advanced laser welding, laser cutting, machining, marking, and micro-drilling services.
“The addition of Arcor’s laser expertise represents our latest investment in building a broad platform of precision technologies and supply chain services for our customers,” stated CEO Alan Connor. “We continue to accelerate our efforts to provide our customers with highly technical solutions to help improve their products and are extremely pleased with the industry-leading laser processing portfolio that Arcor brings to our team.”
Founded by Gary Francoeur in 2004, Arcor specializes in precision laser welding, machining, marking, and drilling, as well as turnkey systems integration. Arcor is also a leading expert in the integration of laser processes into Swiss machining centers, enabling complex fabrication at a lower cost. The company is located in Suffield, Connecticut and consists of two facilities totaling 30,000 square feet.
“We are very excited to join the Cadence team and expand our business,” said Gary Francoeur. “Cadence is a great complement for our current manufacturing capabilities and we serve similar medical device and industrial markets. We see strong opportunities for growth and believe that Cadence has the team and the resources that will enable us to do so.”
Tony Freeman of A.S. Freeman Advisors, LLC, advised Cadence and Steve Pappas, Touchstone Advisors, LLC, advised Arcor in connection with the transaction.
About Cadence, Inc. – Cadence, Inc. is a contract manufacturing partner providing advanced products, technologies, and services to medical device, life science, industrial, and defense companies worldwide. Cadence employs approximately 575 people with its corporate headquarters in Staunton, Virginia and additional locations in Connecticut, Pennsylvania, Rhode Island and Wisconsin. For more information on Cadence, please visit our website at cadenceinc.com.