Westerville’s Lake Shore Cryotronics acquired by DwyerOmega
Lake Shore Cryotronics, a long-established Westerville scientific measurement company with roots in the city dating to the 1970s, has been acquired by DwyerOmega, a global precision measurement and control company backed by private equity firm Arcline Investment Management.
Founded in 1968 by brothers John and David Swartz, Lake Shore had been a family-owned private company before the sale. The company develops cryogenic temperature measurement, magnetics, material characterization, and cryostat technologies for research, advanced manufacturing, and other highly technical fields.
The acquisition marks a significant change in ownership for one of Westerville’s established advanced-technology employers. Lake Shore has operated in Westerville since 1978 and moved to its McCorkle Boulevard location in 1997. In 2023, the company announced a nearly $14 million expansion of its Westerville facility, including additional manufacturing and office space, as well as a new cleanroom for microelectronic development and sensor wafer fabrication. At the time, the company employed 174 people locally.
Lake Shore’s products include high-performance sensors, monitors, controllers and systems used by customers in quantum computing, aerospace, medical technology, semiconductors, fusion energy, research institutions and academia. The company also provides certified calibration and metrology-grade devices for applications where precise measurement and control are critical.
DwyerOmega said the acquisition strengthens its precision temperature measurement business in cryogenics while expanding its capabilities in magnetics and material characterization.
“We are thrilled to welcome Lake Shore to the DwyerOmega family,” Chuck Dubois, CEO of DwyerOmega, said in the announcement. “Lake Shore is at the leading edge of cryogenic temperature, magnetics, material characterization, and cryostat solutions. Its advanced, highly engineered portfolio will strengthen our technology offering, while expanding our market presence and ability to serve customers across a variety of attractive end markets.”
Lake Shore President and CEO Michael Swartz said joining DwyerOmega will expand the company’s reach.
“Joining DwyerOmega expands Lake Shore’s commercial reach, broadens our product offerings and supports continued technological advancements for customers worldwide,” Swartz said. “We are excited to partner with a team that shares our commitment to innovation, quality, and customer support.”
The announcement did not disclose any immediate changes to Lake Shore’s Westerville operations, workforce or leadership structure.
DwyerOmega is a portfolio company of Arcline Investment Management, a private equity firm that says it has more than $30 billion in assets under management and focuses on building industrial platforms by combining niche, mission-critical suppliers in resilient markets.
For DwyerOmega, Lake Shore adds specialized scientific instrumentation in cryogenic temperature control, magnetic measurement, materials analysis and cryostats. For Lake Shore, the sale places a Westerville-grown scientific measurement company inside a larger global measurement-and-control platform.
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