Prototek Acquires Sac EDM & Waterjet
Prototek Holdings LLC ("Prototek"), a leading North American digital manufacturing provider of CNC machining, sheet metal and industrial 3D printing focused on prototyping and low volume production, today announced it completed the acquisition of Sacramento EDM, Inc., (Sac EDM) with two facilities in Rancho Cordova, California totaling 26,000-square feet of manufacturing space offering a full array of CNC machine capabilities: 5-axis milling, turning, waterjet, and both wire and sinker EDM.
"The addition of Sac EDM and our acquisition of Midwest Prototyping in July propels us to achieving our goal to creating a one-stop digital manufacturing solution with superior levels of quality and service," said John Pless, Partner at TruArc Partners and a Director of Prototek. "This is the beginning of creating a platform able to meet customer demands in an Industrial 4.0 world."
The joining of the two companies comes at an ideal time heading into a busy 2022. The acquisition bolsters Prototek's ability to provide complex high-precision prototype and low-volume manufacturing solutions for its customers. In addition, it will allow both firms to serve a more geographically diverse customer base with 8 locations including two in the Northeast, three on the West Coast, two in the Midwest, and one in Colorado. The company will continue to operate in all current Prototek and Sac EDM locations, with more than 300 employees and more than 225,000 square feet of manufacturing workspace.
"Dan and his team at Sac EDM bring valuable technology and capabilities to our growing Digital Manufacturing platform. Their proven success in this field adds a new strategic dimension to our growth," said William Gress, CEO of Prototek. "Sac EDM's ability to produce highly specialized and complex parts quickly further strengthens our ability to meet market demand in a shortening innovation cycle."
William Gress will continue in his role as CEO of Prototek. Dan Folk, President, and CEO of Sac EDM & Waterjet, Inc., will serve as Vice President of Wire EDM and Waterjet Cutting. Folk will be a partner in the company's digital manufacturing growth strategy with Sac EDM & Waterjet, Inc. as the foundation of an aggressive growth plan.
"After nearly 40 years in business it was time to team up with a group that could really take my company to the next level," added Dan Folk. "I am really looking forward to many years of working with such an impressive organization as Prototek."
Terms of the transaction were not disclosed. Parker Poe Adams & Bernstein LLP served as legal counsel to Prototek. Weston and Tuttle acted as exclusive financial advisor to Sacramento EDM, Inc. in connection with the transaction and Brian Katz served as legal counsel.
About Prototek
Prototek is a leading national rapid prototyping services provider of precision machined and sheet metal fabricated parts and components for various end markets, including aerospace, defense, medical, robotics, electronics, consumer, and general industrial. Headquartered in New Hampshire, Prototek serves a diverse customer base with numerous in-house manufacturing capabilities across four dedicated facilities in Colorado, New Hampshire, Northern California, and Wisconsin. Prototek is ISO 9001:2015 certified as well as ITAR Registered. For more information, visit www.prototek.com.
About Sacramento EDM, Inc. (Sac EDM and Waterjet)
Sac EDM was founded in 1982 by California native Dan Folk, President, and CEO. Dan started as a one-person operation with a single EDM machine and grew into the premier EDM shop in Northern California. Sac EDM currently operates a 26,000-square foot ISO 9001:2015 & AS 9100D certified and ITAR registered facility, offering a full array of CNC Machine capabilities; 5-Axis milling, turning, waterjet, and both wire and sinker EDM. For over 40 years, Sac EDM's quality and commitment to their customers to provide a range of highly specialized and complex solutions to aerospace, defense, commercial, semiconductor, subsea and energy industries. For more information, visit http://sacedm.com.
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