Kongsberg Precision Cutting Systems, a portfolio company of OpenGate Capital, has acquired MultiCam, a U.S. manufacturer and distributor of computer numerical code cutting machines, and a supplier of digital finishing processes. MultiCam was acquired from Rosewood Private Investments.
MultiCam is the seventh add-on investment completed for platform companies within OpenGate’s second fund portfolio.
OpenGate Capital’s Partner, Julien Lagrèze stated, “Prior to our acquisition of Kongsberg PCS, which was completed just five months ago, we recognized the importance of digitization for this business and developed an investment thesis that includes the growth of Kongsberg PCS through innovation and add-on investments. With this strategic combination, Kongsberg PCS gains greater scale, and expands its reach to a broader, global customer base with new products and services.”
Kongsberg PCS president, Stuart Fox commented, “This is a monumental day for Kongsberg and MultiCam as it represents a tremendous advantage for our businesses coming together to drive best-in-class cutting and finishing processes for our global customer base. I am excited to begin our work, integrate our businesses, and explore new markets.”