SOURCE: Shape Technologies Group

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August 02, 2016 13:04 ET

Shape Technologies Group, Inc. Acquires Aquarese Industries S.A.

KENT, WA--(Marketwired - August 02, 2016) - Shape Technologies Group, Inc. (SHAPE), a portfolio company of American Industrial Partners (AIP) and the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions has completed the acquisition of Aquarese Industries.

Aquarese is a leading supplier of advanced robotic waterjet cutting systems and UHP process solutions to the aerospace and automotive industries. Headquartered in Billy-Berclau, France, Aquarese designs and delivers the most advanced waterjet systems in the industry; including advanced robotic waterjet machining and materials processing technologies. Aquarese customer solutions have a proven track record with the world's leading manufacturers of gas turbines, internal combustion engines and aircraft components.

"In keeping with our strategy to broaden the application of ultrahigh-pressure processes in advanced manufacturing and engineered materials, Aquarese brings a wealth of experience in UHP robotic solutions focused on processing highly engineered materials and advanced manufacturing process solutions" said David Savage, chief executive officer of SHAPE. "A long-time partner to Flow International, a SHAPE portfolio company, Aquarese complements our robotic system capabilities and expands our suite of advanced manufacturing solutions."

"We are excited to join the SHAPE family," said Patrick Dargent, chief executive officer of Aquarese. "Aquarese has been integrating Flow's ultrahigh-pressure technology since its inception and together the companies have successfully executed numerous projects throughout the years. Together with SHAPE, we can provide customers with highly accurate and cost effective solutions throughout the entire product lifecycle in advanced manufacturing environments."

About American Industrial Partners
American Industrial Partners ("AIP") is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 65 transactions and currently has more than $3.2 billion of assets under management. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $100 million to $1 billion+. For more information about American Industrial Partners, contact Ben DeRosa, Partner at 212-627-2360, extension 200.

About Shape Technologies Group, Inc.
Shape Technologies Group, Inc. (SHAPE) is the world's leading developer and provider of ultrahigh-pressure process solutions for advanced manufacturing and materials processing applications. SHAPE companies deliver innovative manufacturing process solutions to customers spanning 100 countries and a broad array of industries. SHAPE subsidiaries include KMT Waterjet, Dynamic Robotic Solutions, H2O Jet, Flow International Corporation, AquaFlow, Tech-Con Automation, Advanced Pressure Systems (APS), ProJet, TOPS, and Aquarese Industries. For more information, visit www.shapetechnologies.com.

About Aquarese Industries S.A.
The French company Aquarese is specialized in High-Pressure Processes and committed to customer performance worldwide through the development and mastery of innovative manufacturing processes. The Company supplies both standard and custom-built solutions to Aerospace and Automotive most demanding applications. For more information, visit www.aquarese.fr.

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words "anticipate," "expect," "intend," "plan," "believe," "estimate," "may," "project," "will," "offer," "continue," "enhance," "expand," "broaden," "provide," and similar expressions of a future or forward-looking nature. These forward-looking statements are based on management's current views with respect to future results using currently available information, such as market and industry materials, experts' reports and opinions, and current financial trends. These statements are only predictions and are not guarantees of future performance. Important factors that could cause actual results to differ materially from expectations are outlined in more detail in the "Risk Factors" sections of SHAPE's prior reports and in the offering circular provided in connection with the issuance of the notes. All subsequent written and oral forward-looking statements attributable to SHAPE, or persons acting on SHAPE's behalf, are expressly qualified in their entirety by the cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this announcement. SHAPE assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

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