Beringea U.S. portfolio company Micro-LAM, Inc., an advanced manufacturer of laser-assisted machining, ultra-precision diamond tools and custom optics, was acquired by IDEX (NYSE: IEX), a global enterprise of more than 50 diverse companies solving applied technology problems. The deal was made for a cash consideration of $90.0 million, subject to customary adjustments, plus a potential earnout of up to $12.0 million of additional cash. Beringea U.S. first invested in Micro-LAM in 2020.
“This strategic addition expands IDEX materials science expertise serving many industries, including aerospace, defense and optics – attractive markets for our highly diversified company,” IDEX CEO and President Eric Ashleman said.
Among other technologies, Micro-LAM designs and manufactures innovative machining technologies that equip ultra-precision machines with a hybrid laser-diamond cutting system. Their laser-assisted machining (LAM) using diamond turning fabricates optical surfaces from advanced engineered materials. Micro-LAM’s cutting edge diamond tools achieve optimal quality, accuracy and repeatability in producing optical components from complex materials like metals, IR crystalline materials, and polymer substrates.
That expertise complements the existing optical technology offerings from IDEX businesses like Advanced Thin Films, Iridian Spectral Technologies, and CVI Laser Optics.
Founded in 2012, and incorporated in 2017, Micro-LAM began as a spinoff from Western Michigan University, where Deepak Menon developed his Ph.D. thesis, capturing advances in laser-assisted machining. Dr. Menon will continue to lead Micro-LAM’s growth.
The company’s core innovation is the OPTIMUS system, which combines a diamond cutting tool with a laser that softens the material just ahead of the cutting edge. This allows for smoother, more precise cuts, less subsurface damage, and reduced need for additional processing.
Based in Portage, Michigan, Micro-LAM has about 90 employees across three locations – including Keene, New Hampshire, and Stevenage, U.K.
