LongRange Capital, a private equity firm dedicated to fostering long-term, customer-focused growth in middle-market businesses, has finalized its acquisition of US Synthetic Corporation from ChampionX Corporation. Headquartered in Orem, Utah, US Synthetic is a leading provider of advanced polycrystalline diamond (PCD) technologies, offering PCD inserts, bearings, and various diamond science solutions for the energy, mining, and industrial sectors.
The company leverages its expertise in materials science to create high-performance, custom-engineered, and durable products that serve customers worldwide. Renowned for its innovation and exceptional customer service, US Synthetic holds over 600 global patents related to synthetic diamond technologies, solidifying its status as a premier industry partner. Rob Galloway, who has been serving as President since 2009, will continue in his role as CEO and President of US Synthetic.
Advisor/counsel: Evercore served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to LongRange on the transaction.
KEY QUOTES:
“We are excited to complete our acquisition of US Synthetic and to partner with Rob and the entire US Synthetic team. (US Synthetic) has built an exceptional culture of continuous improvement and demonstrated a track record of success through its focus on innovation and customer service. We look forward to supporting US Synthetic as they continue to build upon their material science expertise in delivering industry-leading PCD solutions and expanded use of their unique synthetic diamond technology across different industrial applications.”
Bob Berlin, Managing Partner at LongRange
“As a fully standalone business under LongRange ownership, US Synthetic is completely focused on delivering enhanced products and solutions for our customers with best-in-class service. We have a renewed and enhanced commitment to working in partnership with our customers to deliver industry-leading solutions. With LongRange’s resources, capital, and commitment to fostering innovation and sustainable growth, we are well-positioned to build upon our legacy of excellence in material science solutions.”
Rob Galloway
