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June 27, 2016

OPM, Hexcel deal value revealed

PHOTO | HBJ File Oxford employees use lasers to sculpt parts made from a high-performance thermoplastic technology.
By Greg Bordonaro

How much is a minority stake in South Windsor's Oxford Performance Materials Inc. worth?

Apparently $15.8 million, according to federal regulatory filings.

Earlier this month the additive manufacturer announced that Stamford's Hexcel Corp. agreed to buy a minority stake in the company, but both sides declined to disclose the financial terms of the deal. But a recent filing with the U.S. Securities & Exchange Commission shows OPM recently raised $15.8 million in an equity investment that a company spokesman confirmed was from Hexcel.

What still isn't clear is what percentage Hexcel now owns in OPM, making it difficult to calculate OPM's value.

According to Oxford's CEO and Chairman Scott DeFelice, the Hexcel investment will help Oxford expand its production capacity. It also sets the stage for joint technology collaboration and business development efforts, DeFelice said in a statement. Hexcel is a supplier of advanced composites for commercial aerospace, space and defense and industrial applications. Oxford uses Hexcel carbon fiber in the production of its 3D printed structural parts for a range of satellite and aerospace programs.

Oxford has 60 employees and 50,000 square feet of manufacturing/R&D/office space in two South Windsor facilities.

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