SOURCE: Shape Technologies Group, Inc.

Shape Technologies Group, Inc.

September 09, 2016 13:32 ET

Shape Technologies Group Names Jim Jenson as New President of Component Shaping Group

KENT, WA--(Marketwired - September 09, 2016) - Shape Technologies Group, Inc. (SHAPE), the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions, an American Industrial Partners (AIP) portfolio company, today announced that James (Jim) Jenson has joined SHAPE as President of the Component Shaping Group (CSG) business segment which includes world leading brands in waterjet process solutions: Flow International Corporation, Aquarese Industries, and TOPS. Jenson will be responsible for leading all commercial activities including: sales, marketing, technical service, customer service and support.

"Jim's extensive experience leading operations at high growth technology companies will be a great asset as we continue to build the SHAPE platform and expand our global position in UHP process solutions," says David Savage, chief executive officer of SHAPE. "His ability to drive excellence in the customer experience will add significantly to our capabilities in our component shaping division, allowing us to grow and expand in targeted advanced manufacturing applications worldwide."

Jenson spent the past 10 years at Veeco Instruments where he was most recently senior vice president and general manager of the Metal-Organic Chemical Vapor Deposition (MOCVD) business unit, serving the LED industry. While at Veeco, Jenson held various senior executive roles within technology operating units and product groups including marketing in high growth, acquisition and turnaround situations both domestically and internationally. Previously, Jenson held similar senior executive roles during his 12-year career with Brooks Automation. He holds a B.S. in Electrical Engineering with honors from Pennsylvania State University, as well as a M.S. in Engineering Management and Operations Research from Northeastern University.

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 System, TOPS, and Aquarese Industries. For more information, visit www.shapetechnologies.com.

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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