Philadelphia, Pennsylvania-based Carpenter Technology Corp. has acquired LPW Technology Ltd. (LPW), a developer and supplier of advanced metal powders and powder lifecycle management solutions to the additive manufacturing industry, for approximately $81 million. LPW, based in Widnes, Cheshire, United Kingdom, has a 98,000ft2 manufacturing facility with additional processing operations near Pittsburgh, Pennsylvania. LPW employs approximately 80 people.
“Our aggressive development in key aspects of additive manufacturing (AM) demonstrates our commitment to build on our industry-leading position in this space,” said Tony R. Thene, Carpenter’s president and CEO. “The acquisition combines LPW’s metal powder lifecycle management technology and processes with our technical expertise in producing highly engineered metal powders and additively manufactured components."
Lifecycle management technology is becoming increasingly important to understanding how materials behave before, during, and after production in the powder-bed fusion process. Understanding powder behavior is critical as AM becomes more widely adopted and implemented across various industries.
“LPW’s innovative platforms and enabling technology further solidify Carpenter’s position as a preferred provider of end-to-end next generation additive manufacturing solutions,” said Phil Carroll, LPW’s founder. “I’m extremely proud of the accomplishments we’ve achieved at LPW and I’m excited to be part of Carpenter’s continued growth and leadership in AM.”
Carpenter’s additive portfolio, including recent investments in Puris, a titanium powders producer; CalRAM, a leader in electron beam and laser powder-bed fusion additive manufacturing services, and construction of an Emerging Technology Center in Athens, Alabama, represent a significant force positioned to capitalize on the rapid AM growth.
RSM Corporate Finance LLP served as exclusive financial advisor to LPW Technology Ltd. on the transaction.