Latest news with #CNCmachining
Yahoo
18-07-2025
- Business
- Yahoo
PMGC Holdings Inc. Completes Acquisition of CNC Machining Company - AGA Precision Systems LLC
Adds $1.39 Million in Cash-Flow-Positive Revenue from a CNC Machining, Mold Manufacturing, and Specialty Metals Operation Serving the Aerospace, Defense, and Industrial Markets. Adds to PMGC's U.S. Manufacturing Revenue Through a Second Bolt-On Acquisition Under Its Roll-Up Strategy, Bringing Estimated Total Annualized Revenue to Over $2.25 Million. NEWPORT BEACH, Calif., July 18, 2025 (GLOBE NEWSWIRE) -- PMGC Holdings Inc. (Nasdaq: ELAB) (the 'Company,' 'PMGC' or 'we'), a diversified public holding company, today announced that it has completed the acquisition of AGA Precision Systems LLC ('AGA'), a California-based CNC machining business that generated over $1.39 million in revenue in 2024 and has a track record of profitability. The transaction reflects PMGC's continued focus at both the management and strategic levels on acquiring U.S.-based, cash-flow-positive industrial businesses with capabilities that strengthen mission-critical supply chains. It also aligns with broader industry momentum toward US based manufacturing, reshoring, which are revitalizing America's aerospace, defense, and precision manufacturing sectors. About AGA Precision Systems LLC AGA Precision Systems LLC is a specialized CNC machine shop focused on high-tolerance milling, turning, mold manufacturing, and machining of complex metals including titanium and Inconel. The company serves customers across the aerospace, defense, and industrial sectors, delivering precision components to demanding technical specifications. Founded over a decade ago, AGA has built a strong reputation for quality and reliability, having grown its business exclusively through referrals and repeat orders without a formal sales or marketing function. Its long-standing customer relationships and niche capabilities have supported consistent operating profitability from its base in California. The company will continue operations with existing leadership and under the guidance of a new experienced machine shop management team, supported by strategic and financial oversight from PMGC. In 2024, AGA generated $1,390,000 in revenue and was earnings before interest, tax, depreciation and amortization (EBITDA) positive. Strategic Rationale The acquisition of AGA aligns with PMGC's broader strategy of acquiring specialized, U.S.-based manufacturing businesses with strong fundamentals, consistent earnings, and long-term growth potential. AGA's technical expertise and positioning across mission-critical industries make it a strategic addition to PMGC's operating portfolio. 'AGA Precision Systems exemplifies our focus on acquiring high-quality, resilient businesses vital to U.S. manufacturing,' said Graydon Bensler, Chief Executive Officer of PMGC Holdings Inc., managed through GB Capital Ltd. 'Its expertise in specialty metals, long-standing customer relationships, and role in critical supply chains add strong operational and strategic value to our platform.' PMGC intends to support AGA's continued growth through targeted investments in business development, production efficiency, and resource planning. The Company also sees long-term opportunity to deepen AGA's footprint across defense and industrial programs requiring reliable, U.S.-based suppliers. Industry Outlook The global CNC machine tool market is projected to grow from $100.5 billion in 2024 to $109.1 billion in 2025, reaching over $200 billion by 2033i. Growth is driven by demand from aerospace, defense, and industrial sectors, alongside reshoring efforts supported by the CHIPS and Inflation Reduction Acts. AGA marks PMGC's second completed acquisition this quarter, following the acquisition of Pacific Sun Packaging on July 10, 2025. The Company has two additional pending acquisitions previously announced and continues to pursue further opportunities in cash-flow-positive U.S.-based manufacturing and industrial businesses. PMGC acquired 100% of the issued and outstanding interests in AGA for $650,000 in cash with no debts or liabilities. About AGA Precision Systems LLC AGA Precision Systems LLC is a California-based CNC machining company specializing in high-tolerance milling, turning, mold manufacturing, and the machining of metals such as titanium and Inconel. The company serves customers across aerospace, defense, space, and industrial markets. About PMGC Holdings Inc. PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as 'believes,' 'expects,' 'plans,' 'potential,' 'would' and 'future' or similar expressions such as 'look forward' are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC's filings with the United States Securities and Exchange Commission ('SEC'), including the 'Risk Factors' section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Investor Relations Contact: IR@ i CNC Machine Tool Market Size, Share & Growth By 2033
Yahoo
17-07-2025
- Automotive
- Yahoo
Hadrian raises $260M to build out automated factories for space and defense parts
Investors are continuing to rally behind the call to reindustrialize American industry, this time by building out a $260 million war chest for automated manufacturing startup Hadrian to scale its factory footprint and make even more machine parts. Hadrian's aim is to modernize American manufacturing by leveraging advance automation to deliver mass-produced parts for aerospace and defense companies at a fraction of the time. It's a huge change to the status quo: a manufacturing industry that's largely populated by dozens of small machining shops run by an aging workforce. Hadrian's first target was high-precision CNC machining, a manufacturing process that makes parts to extremely tight tolerances — often measured in the microns, not millimeters (a single human hair is anywhere from 50 to 120 microns in thickness). Now, in addition to that core CNC offering, the company is getting ready to diversify into welding, casting, additive, and other processes, Power said in a post on X. (He did not immediately respond to TechCrunch's request for comment on the new round.) The hefty new round will also go toward building out a new Arizona facility, dubbed 'Factory 3,' slated to come online by Christmas 2025. That factory will offer four times the machining throughput of Hadrian's second factory. Hadrian is also expanding its 500,000-square-foot headquarters and R&D space in Torrance, California, with the new funding. The company will also start offering divisions for maritime and munitions-specific parts 'to meet the sale and speed needed to reclaim our birthright as the industrial superpower of the world,' Power said on X. Hadrian's business model is not just selling parts, but also a 'factories as a service' model that will see dedicated facilities for customers that want to ensure committed factory capacity. Speaking at the Reindustrialization Summit on Wednesday, Power argued that reshoring domestic production is nothing less than existential: 'This country is heading into a generational fight,' he said. 'The hour is extremely late. The great game is on … We have an incredibly short window to prepare for this, fix it, reindustrialize the country and return to what made us great in the first place.' The new round was led by Founders Fund and Lux Capital, with Morgan Stanley providing financing for the factory expansion. New investors Altimeter, 1789 Capital, and existing investors a16z, Construct Capital, and 137 Ventures also participated. The company has now raised nearly $500 million since it was founded in 2020.
TechCrunch
17-07-2025
- Automotive
- TechCrunch
Hadrian raises $260M to build out automated factories for space and defense parts
Investors are continuing to rally behind the call to reindustrialize American industry, this time by building out a $260 million war chest for automated manufacturing startup Hadrian to scale its factory footprint and make even more machine parts. Hadrian's aim is to modernize American manufacturing by leveraging advance automation to deliver mass-produced parts for aerospace and defense companies at a fraction of the time. It's a huge change to the status quo: a manufacturing industry that's largely populated by dozens of small machining shops run by an aging workforce. Hadrian's first target was high-precision CNC machining, a manufacturing process that makes parts to extremely tight tolerances — often measured in the microns, not millimeters (a single human hair is anywhere from 50 to 120 microns in thickness). Now, in addition to that core CNC offering, the company is getting ready to diversify into welding, casting, additive, and other processes, Power said in a post on X. (He did not immediately respond to TechCrunch's request for comment on the new round.) The hefty new round will also go toward building out a new Arizona facility, dubbed 'Factory 3,' slated to come online by Christmas 2025. That factory will offer four times the machining throughput of Hadrian's second factory. Hadrian is also expanding its 500,000-square-foot headquarters and R&D space in Torrance, California, with the new funding. The company will also start offering divisions for maritime and munitions-specific parts 'to meet the sale and speed needed to reclaim our birthright as the industrial superpower of the world,' Power said on X. Hadrian's business model is not just selling parts, but also a 'factories as a service' model that will see dedicated facilities for customers that want to ensure committed factory capacity. Speaking at the Reindustrialization Summit on Wednesday, Power argued that reshoring domestic production is nothing less than existential: 'This country is heading into a generational fight,' he said. 'The hour is extremely late. The great game is on … We have an incredibly short window to prepare for this, fix it, reindustrialize the country and return to what made us great in the first place.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW The new round was led by Founders Fund and Lux Capital, with Morgan Stanley providing financing for the factory expansion. New investors Altimeter, 1789 Capital, and existing investors a16z, Construct Capital, and 137 Ventures also participated. The company has now raised nearly $500 million since it was founded in 2020.
Yahoo
15-07-2025
- Automotive
- Yahoo
Kimura Foundry America Expands U.S. Operations with Acquisition of VIP Tooling
SHELBYVILLE, Ind., July 15, 2025 /PRNewswire/ -- Kimura Foundry America, a growing U.S. provider of rapid prototype castings, announced today the acquisition of VIP Tooling, a well-established precision tooling and CNC machining company also based in Shelbyville, Indiana. This strategic acquisition enhances Kimura's ability to provide customers nationwide with streamlined, full-service manufacturing solutions. With both operations located in close proximity, the integration brings together advanced casting and machining capabilities—enabling faster lead times, tighter process control, and cost efficiencies for customers in key industries including automotive, energy, and industrial manufacturing. "The addition of VIP Tooling to the Kimura family allows us to offer a truly all-in-one manufacturing service," said Michiya Kajiwara, President of Kimura Foundry America. "By combining our cutting-edge 3D-printed casting technologies with VIP's precision machining capabilities, we're simplifying the supply chain for our customers, improving lead times, and accelerating innovation across U.S. manufacturing." VIP Tooling, founded in 1973, is known for its commitment to precision and reliability in custom tooling and CNC machining. While both companies will continue to operate from their respective facilities, the shared location supports more efficient logistics and collaboration—enhancing Kimura's ability to serve a broad U.S. customer base from a central Midwest hub. "We're excited to join forces with a company that shares our focus on innovation, craftsmanship, and customer success," said Paul Nolting, COO at VIP Tooling. "This partnership strengthens our ability to serve existing clients while opening the door to new opportunities in advanced manufacturing." The acquisition reflects Kimura's continued investment in the North American market. As a subsidiary of Japan's Kimura Group—one of the world's most respected names in casting—Kimura Foundry America brings nearly a century of manufacturing heritage to its U.S. operations. Since establishing its Shelbyville facility in 2018, Kimura has focused on delivering high-speed, high-precision manufacturing solutions tailored to the needs of OEMs and Tier 1 suppliers. By combining the strengths of both companies, Kimura Foundry America now offers a competitive advantage for manufacturers seeking faster turnaround times, consolidated services, and improved cost control—all from a trusted partner with global expertise and a growing U.S. presence. About Kimura Foundry America Kimura Foundry America is a U.S. subsidiary of Kimura Group, Japan's leading casting manufacturer with nearly 100 years of experience. Established in 2018 in Shelbyville, Indiana, Kimura provides rapid prototype castings and advanced manufacturing solutions to OEMs and Tier 1 suppliers across North America. For more information, visit: Media Contact:Michael NewellChief Marketing Officermnewell@ 530-8418 View original content to download multimedia: SOURCE Kimura Foundry America Sign in to access your portfolio
Globe and Mail
04-06-2025
- Business
- Globe and Mail
Mekalite Named Best Online CNC Machining Service in the USA, Accelerating the Digital Transformation of Manufacturing
USA - June 4, 2025 - As the manufacturing industry undergoes rapid digitalization and smart transformation, Mekalite has distinguished itself as a leader in Online CNC Machining Services, earning the title of 'Best Online CNC Machining Services Provider in the USA.' With cutting-edge technology and exceptional customer service, Mekalite is driving industry advancements and fostering manufacturing innovation. Mekalite has invested heavily in technological innovation, creating an intelligent online platform that enables customers to upload designs, obtain instant quotations, track production progress, and place orders seamlessly. Whether for rapid prototyping or high-volume production, clients benefit from swift turnaround and consistently high-quality CNC machining solutions. Mekalite serves diverse industries including automotive, aerospace, medical, and mechanical engineering, meeting customers' demands for precision and efficiency. Equipped with advanced CNC machinery and a team of experienced engineers, Mekalite is proficient in processing a wide range of metals and engineering plastics. The company continuously refines its manufacturing workflows to ensure top-notch quality and stringent on-time delivery. Customer centricity remains Mekalite's core value, with dedicated technical support provided for each project to enable a smooth, hassle-free experience and help businesses accelerate innovation and production. "Our mission is to redefine the manufacturing experience with cutting-edge digital technologies and world-class service. Continuous innovation, efficient collaboration, and rigorous quality control are our pillars of growth," said Wendy, CEO of Mekalite. "We are committed to advancing digital manufacturing technologies and supporting the high-quality development of American manufacturing." With strong technological capability and an outstanding reputation, Mekalite has become one of America's most trusted providers of Online CNC Machining Services. Looking ahead, Mekalite will continue to deepen its R&D efforts and expand its service ecosystem, partnering with clients to drive the industry's digital and intelligent evolution. About Mekalite Mekalite is an innovative provider of Online CNC Machining Services for global manufacturing, engineering, and technology clients. The company offers a comprehensive suite of solutions including CNC milling, turning, and precision part fabrication. Leveraging a digital platform and professional team, Mekalite is at the forefront of modern manufacturing services.
