Group Chief Executive
Bodycote
Source: LinkedIn
Bodycote has announced its acquisition of Lake City Heat Treating, based in Warsaw, Indiana, which was successfully completed on January 19, 2024. The midwestern heat treater is a leading medical market provider of hot isostatic pressing (HIP) and vacuum heat treatment services, primarily supplying the orthopedic implant market as well as civil aerospace.
Stephen Harris, group chief executive of Bodycote plc, commented: "This acquisition is an excellent fit, and it allows us to better address the growth opportunities in the medical and aerospace markets." With this acquisition, the heat treater will increase their range of specialist thermal processing and heat treatment solutions available to these industries.
Lake City Heat Treating is forecast to have achieved 2023 full year revenues of around $14m (£11m). The business revenue grew 30% in 2023 and looking ahead is expected to continue to deliver good progress.
Their constant growth reflects the high-quality business that has successfully gained share among distinguished medical and aerospace OEMs. The acquisition fits with Bodycote’s strategy to grow its Specialist Technologies businesses.
This Bodycote press release can be found in its original form here.
