Pentzer Purchases California Company
Pentzer Corp. has purchased a California maker of components for the computer and arcade industries.
Advanced Manufacturing and Development also makes unique equipment that rapidly coats and dries wood molding, said Pentzer President Dick Davis.
Advanced Manufacturing is by far the largest acquisition of Pentzer, which is the holding company for the non-utility operations of Washington Water Power Co.
The company employs 475 at facilities in Willits and Santa Clara, Davis said, and annual sales exceed $50 million.
Customers include high-technology companies such as Varian Associates and Cisco Systems Inc., he noted.
“This is an excellent company, and we believe they have the potential to be a major player in their industry,” Davis said.
He said Advanced Manufacturing President Gary Ramos will continue to run the company. Other owners have dropped out.
“Pentzer not only provides us financial expertise but it shares our strategy of continued growth,” Ramos said.
Davis said Pentzer bought 93 percent of the company.