Tucson-based AGM Container Controls Inc. has acquired a Marana company that makes advanced ultra-hard metal coatings and coating systems.
AGMโs acquisition of Duralar Technologies will add a new range of products to AGMโs offerings while helping Duralar develop new products and expand its markets, the companies said in a joint announcement.
Financial terms of the deal between the two privately held companies were not disclosed.
The companies said Duralar will become a wholly owned subsidiary of AGM and move from its current location, just west of Interstate 10 north of Ina Road, to AGMโs headquarters on East Fort Lowell Road by the end of the year.
There are no plans to cut staff and the company expects its workforce to grow, AGM spokesman Paul Davis said.
Founded in 1970, AGM is a leader in container moisture-control systems for industrial, commercial and defense applications and employs 123 workers, a company spokesman said.
Duralar was founded in 2013 by an Italian technology company and Silicon Valley entrepreneur Andrew Tudhope, the companyโs CEO, and it opened its U.S. headquarters in Marana in 2014. The company employs 18 workers locally and has offices in Italy, Mexico, Japan, China and Brazil.
โDuralarโs cutting-edge coating technology will enable AGM to deliver a whole new spectrum of solutions that will help our customers meet the exacting standards that define the aerospace and defense industries,โ AGM President and CEO Howard Stewart said.
Tudhope said the deal will increase the companyโs critical mass and fuel expansion.
โAGMโs deep background and experience in high rigor manufacturing will allow us to bring new expertise and additional developmental resources to bear on both the product development process and market expansion efforts,โ Tudhope said.
Duralar has developed a proprietary, uniquely structured nanocomposite coating that blends metal and diamond-based components to achieve exceptional hardness and strength and a range of performance qualities including wear control and dry lubrication.
In 2018, Duralar introduced its Emperion system for high-speed deposition of ultra-hard coatings on metal parts.
