DMC Global to ‘refresh’ board of directors

BROOMFIELD — DMC Global Inc. (Nasdaq: BOOM) has hired Bradley Radoff to identify a new independent member to join the oilfield and infrastructure services firm’s board of directors.

Simultaneously and “consistent with the board’s refreshment practices and its retirement policy,” Robert Cohen and Richard Graff will not be renominated for election to the board, and “the size of the board will be reduced to seven directors, subject to increase for the appointment of the new independent director.”

The board shakeup comes as DMC Global is considering selling off two of its three business units: DynaEnergetics, the company’s energy-industry services division; and NobelClad, DMC’s industrial infrastructure and transportation division.

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DMC’s board of directors, in collaboration with outside financial consultants, “will consider various strategic, business, and financial alternatives for DMC’s DynaEnergetics and NobelClad businesses,” the company said in January. “These could include, among other things, a sale, a merger or other business combination of a portion of DMC’s business-unit assets, and/or a strategic investment.”

If DynaEnergetics and NobelClad are offloaded, DMC’s remaining business unit would be Arcadia, a supplier of architectural building products.