CHICAGO, IL - November 9 , 2006 - Veridiam, Inc., a WHI Capital
Partners portfolio company, has acquired Poway, California-based
Advanced EDM Automation. “With this acquisition, Veridiam will
strengthen it’s leading position in offering a wide array of
manufacturing solutions for medical device and power generation
manufacturers,” said Eric Cohen, Managing Partner of WHI Capital
Partners.
Including Advanced EDM Automation, WHI Capital Partners has now
acquired eight companies across four platform investments over the past
20 months. The combination of Veridiam and Advanced EDM Automation
creates one of the country’s most innovative and technologically
advanced metal fabrication companies. The acquisition continues
Veridiam’s strategic initiative to offer a broader array of
manufacturing solutions particularly for customers in the medical
markets.
“Medical device companies continue to push the limits of materials
and manufacturing technologies in order to minimize invasiveness,
improve the standard of care and meet the demands of an increasingly
informed patient,” said Neal Nordstrom, Chief Executive Officer of
Veridiam. “Veridiam and Advanced EDM have positioned themselves at the
forefront of this trend, and together we will build on our combined
strength to help improve our customers’ products and procedural
outcomes.”
Both companies are actively integrating their operations, networks,
and customer service organizations to ensure a smooth transition and
provide immediate value for their customers. Mr. Turoff, former
President and owner of Advanced EDM, will now serve as a Director of
Technology for Veridiam.
About Veridiam
Veridiam, formerly known as
Carpenter Special Products Corporation prior to its June, 2005 purchase
by WHI Capital Partners, is a leading machined parts and custom metal
tubing specialist that has served as a major manufacturer of precision
engineered, integrated build-to-print components for over 50 years.
Veridiam manufactures assemblies, sub-assemblies, machined components,
and precision metal tubing for medical device, nuclear, aerospace and
power generation applications from high performance alloys including
stainless steel and titanium. Managing the complete supply chain,
Veridiam delivers a finished device to specification on time, saving
time and expense. Its operations include over 170,000-sq. ft. of
manufacturing space on 7 acres outside of San Diego, California.
About Advanced EDM Automation
Advanced EDM Automation is a leading metal fabrication company with technologically advanced capabilities,
including all types of Electrical Discharge Machining (wire, sinker,
and hole drilling), multi-axis CNC Machining, Automated Systems, and
Miniature Manufacturing. Advanced EDM Automation’s micro-machining
capabilities create products with tolerances as accurate as .0001.”
Resolving clients most difficult machining and manufacturing challenges
is the company’s specialty.
About WHI Capital Partners
WHI Capital Partners (www.whicapital.com) is a Chicago-based private equity firm that invests in leading niche manufacturing, value-added distribution and specialty service companies with revenues between $10 – 100 million. WHICP focuses on creating a true partnership with a company’s management team with the goal of enhancing operational efficiency along with developing and executing a clearly defined growth plan to build value. Backed by the financial strength and resources of its parent firm, William Harris Investors, Inc., WHI Capital Partners provides a unique solution to help a company capitalize on its long-term opportunities.