MANCHESTER, N.H., Sept. 9, 2013 (GLOBE NEWSWIRE) -- Granite State Manufacturing (GSM), a leading contract manufacturer of specialized equipment for the defense, medical, semiconductor, and industrial market segments, has acquired the assets of Equipois Inc., the award-winning developer of zeroG and X-Ar exoskeletal arm technologies.
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The acquisition is a strategic investment for GSM and will allow the company to utilize its precision manufacturing capabilities and robotics expertise to expand the capabilities and markets for Equipois products.
Equipois' patented technology enables workers to maneuver tools and other objects as if weightless, boosting productivity and eliminating workplace injuries for a wide range of industrial applications. The technology has won recognition for its innovation, including a 2011 Wall Street Journal Technology Innovation Award. Naval Sea Systems Command (NAVSEA) has utilized Equipois technology in their efforts to create a modern-day "iron man", providing sailors with the ability to minimize the time and effort required for labor-intensive maintenance such as preservation work on a ship's hull. Many of the world's largest companies in aerospace, defense, automotive, heavy machinery, and other manufacturing industries are implementing the technology as a significant enhancement to human performance and safety.
John R. Allard, CEO of the Allard Nazarian Group Company, GSM's parent company, said, "We are excited to build upon the momentum that the Equipois team has created over the past several years. By applying GSM's legacy of precision manufacturing and outstanding customer service, we are well positioned to support the existing client base for these compelling products. In adding Equipois products and technologies to GSM's existing portfolio of capabilities, we believe we have put GSM on a path for continued success over the next decade. We will be expanding the Equipois technology to new customers and new markets and know that we have a product platform that is poised for robust growth. We intend to compliment this product platform over the coming years with further acquisitions designed to build upon the strengths and resources of the combined companies."
Eric Golden, CEO of Equipois Inc., said "Granite State Manufacturing enjoys deep expertise serving the industries where our technology adds the most value. I am delighted that Equipois has found an owner that will invest in the capabilities of the technology and bring the products to the next level."
The employees of Equipois Inc. have joined Granite State Manufacturing to ensure consistent customer service and a smooth transition for the business.
ABOUT GRANITE STATE MANUFACTURING
Founded in Manchester, New Hampshire in 1938, Granite State Manufacturing is a highly specialized organization, combining value engineering, program management and in-house, state-of-the-art production facilities. Granite State Manufacturing offers the military, semi-conductor and pharmaceutical industries a full range of manufacturing services including precision machining, metal fabrication, welding, soldering, mechanical assembly, electrical assembly and testing.
ABOUT EQUIPOIS INC.
Founded in 2006, Equipois designs and manufactures dynamic exoskeletal technologies that support the musculoskeletal system while allowing full spatial and rotational freedom of motion. The company's patented zeroG® and X-Ar™ systems are designed to support a range of manufacturing, heavy industrial, bioresearch, medical, defense and other applications in order to increase productivity and safety. Equipois was named one of America's most promising startups by Bloomberg Business Week in 2010 and received the Wall Street Journal's Technology Innovation Award in 2011.
For more information, visit http://www.equipoisinc.com.
