Ontario County’s Harbec Inc. has been acquired by Addman, a provider of additive and traditional manufacturing products. The transaction was powered by American Industrial Partners, a private equity firm—marking the fourth acquisition for the Florida business.
Financial details of the deal were not disclosed.
Founded more than four decades ago, Harbec is known for its work in the pre-production and production of machined components, metal and polymer 3D printing and injection molding. Harbec works with a mix of materials, serving the aerospace, defense, medical and high-tech industrial markets.
“We are lucky to have such a loyal customer base that has partnered with us to design, engineer, and manufacture the impossible over the last 45 years,” says Bob Bechtold, founder of Harbec. “With the Addman and AIP leadership team, we are certain that legacy and brand commitment will remain unchanged for them.
“If anything, they now have access to new capabilities, additional capacity, and a whole network of highly skilled partners as a byproduct of the sale. We all come out ahead with this one.”
Harbec’s 160 employees will now be part of Addman, which was established by AIP leveraging a $3 billion fund in 2020. A middle-market private equity firm, AIP focuses on buying and improving industrial businesses with operations in the U.S. and Canada. Addman falls in its industrial technology sector and generates $59 million in annual revenue, AIP says.
Chris Piedici, chief operations officer for Harbec, will serve as general manager and maintain day-to-day oversight of the local firm. Customers and suppliers will continue to deal with Harbec as they have in the past, officials say.
The Harbec acquisition adds a new capability to Addman—rounding out its polymer product offerings, says Joe Calmese, CEO of Addman.
“We now have the tools that span the full product lifecycle for plastics, and that’s powerful,” he says. “Furthermore, deepening our capabilities in precision machining and additive manufacturing allows us to target critical new markets including our growing medical business.”
As Addman considers a greener future, Bechtold’s leadership in creating a sustainable manufacturing business also made Harbec an attractive acquisition. Bechtold committed to environmentally responsible manufacturing early on. The company has been 100 percent carbon-and water-neutral for a decade. Harbec boasts a 110,000-square-foot, climate-controlled facility with ISO certifications for environmental and energy policy. Awards have acknowledged Harbec’s environmental, social and governance initiatives.
“One of the main goals of Harbec is to see others adopt an environmentally conscious manufacturing approach, what we pen as ‘The Harbec Way,’” Bechtold says. “Joining the Addman group helps us do exactly that across the country. We look forward to applying our sustainable manufacturing processes throughout Addman.”
Kevin Wilken, a partner at AIP and an Addman board member, applauds Harbec for its sustainable efforts.
“AIP formed Addman to modernize how Americans think about manufacturing,” he says. “This acquisition expands our use of innovative technology and integrates impressive, sustainable manufacturing methodologies into our portfolio. Addman is positioned for continued success with Harbec now in its orbit.”
Smriti Jacob is Rochester Beacon managing editor. The Beacon welcomes comments from readers who adhere to our comment policy including use of their full, real name.