Cadence Inc. acquires Connecticut company
Staunton-based Cadence Inc. has acquired the assets of Arcor Laser Services LLC, a laser processing company based in Connecticut.
Financial details of the deal were not disclosed.
Cadence is a contract manufacturing firm providing advanced products, technologies and services to medical-device, life science, industrial and defense companies worldwide.
“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,” Cadence CEO Alan Connor said in a statement. “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 in 2004 by Gary Francoeur, Arcor specializes in precision laser welding, machining marking and drilling, as well as turnkey systems integration.
Arcor is also a leader in integrating laser processes into Swiss machining centers, enabling complex fabrication at a lower cost.
The company’s home in Suffield, Conn., includes 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.”
Cadence employs about 575 people in Staunton, Virginia. It has other locations in Connecticut, Pennsylvania, Rhode Island and Wisconsin.
Tony Freeman of A.S. Freeman Advisors, LLC, advised Cadence. Steve Pappas of Touchstone Advisors LLC, advised Arcor in the transaction.