Case Study |
Claymount Technologies

Case Study - Claymount XRay Equipment Manufacturing

Claymount Technologies BV, an advanced manufacturing company headquartered in the Netherlands, was one of the world’s leading suppliers of X-ray components and subsystems, high voltage connectors, ionization chambers and solid-state automatic exposure control systems. With manufacturing sites in the Netherlands and Philippines, the company sought to accelerate growth through acquisition and to capitalize on North America’s robust medical diagnostic equipment market.

Buy-and-Build Strategy Expands Global Advanced Manufacturing Footprint

BUSINESS CHALLENGE: Quickly execute management’s buy-and-build strategy

While Claymount had an established U.S. sales and distribution office, the division lacked the advanced manufacturing and engineering capabilities of the company’s EMEA and APAC operations. Claymount’s visionary owner/CEO had launched an aggressive “buy-and-build” accretive growth strategy to bolster an already robust organic growth rate. Since the company was a well-known participant in the relatively narrow X-ray equipment industry, identification of viable acquisition targets had to be conducted selectively, discreetly, and with deep knowledge of the industry and applications.

To realize the management team’s aggressive growth plans, any North American acquisition would need to be completed within a compressed timeframe of six to nine months and with a high probability of success

SOLUTION: Proven 10-point acquisition process

To move quickly in the American market, Claymount needed a partner that could identify acquisition targets that were not only financially attractive, but would be a desirable organizational and cultural fit. And with the target company headquartered in the United States, knowledge of international legislation and the current economic climate would be critical in executing a successful transaction.

Working closely with Claymount’s CEO, CTO and CFO, Alliance Technologies implemented its proven 10-point approach to streamlining acquisition identification, assessment, negotiation and integration, and quickly provided a comprehensive M&A assessment list of pre-qualified candidates. After narrowing this list to six high-priority targets, Alliance initiated exploratory dialogue to further assess acquisition viability and suitability, and provided detailed Harmony Rating™ scorecards to identify the cultural, technological, financial and operational suitability for the Claymount organization.

A primary candidate, Advanced Instrument Development, Inc. dba/AID X-ray, was identified near Claymount’s U.S. headquarters in the Chicago area; Alliance managed the outreach, education, preliminary due diligence, and ultimate negotiation of the binding purchase agreement. After the transaction, Alliance worked with the senior management of both Claymount and AID X-ray to define a 100-day plan to integrate the companies and merge the sales, distribution, engineering and manufacturing into one facility.

RESULTS: Successful acquisition leads to accelerated growth

The successful acquisition of AID X-ray’s ionization chamber products and technologies was a perfect fit for Claymount’s rapidly evolving X-ray sub-system strategy. The combined company added strong engineering, operations, and advanced manufacturing capabilities, and helped Claymount to achieve its aggressive growth objectives.

Claymount continued to enhance its competitive position in the American market, and the company’s continued growth ultimately led to the sale of Claymount to Varian Medical Systems (NYSE: VAR) in 2015, which was spun off as part of Varex Imaging Corp. (NASDAQ: VREX) in 2017.

Global Expansion Through Mergers & Acquisitions

Strategic acquisition can present one of the most effective means to accelerate growth and to establish or enhance an international company’s position in the Americas. To meet your company’s specific needs, Alliance can tailor its proven 10-point M&A approach to accelerate growth and profitability. Alliance represents clients with both buy-side and sell-side objectives, and also negotiates complex strategic alliance, licensing, and joint venture arrangements when appropriate.

For more information about how your company can put Alliance Technologies’ proven approach and Americas-focused expertise to work, contact us or

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