Additive manufacturing service specialist FATHOM, has been acquired by Wisconsin-based Midwest Composite Technologies (MCT). A fellow on demand manufacturing service, MCT is a portfolio company of the Chicago-headquartered private equity firm CORE Industrial Partners. Together, MCT and FATHOM now reportedly form “one of the largest global independent additive manufacturing companies.”
Financial terms of the transaction have not been disclosed. According to FATHOM Principal and Co-Founder Rich Stump, the support of the two businesses “will give the combined platform considerable scale” as well as “the financial resources to invest in cutting-edge technologies and infrastructure to be the most accelerated manufacturer of prototypes and production parts.”
CORE plans to make other “complementary acquisitions” to bolster the expertise of MCT and FATHOM and build its own “leading Industry 4.0 additive manufacturing company.”
3D printing at FATHOM
FATHOM was founded in 2008 by Stump and co-founder Michelle Mihevc with the purchase of a PolyJet 3D printer. As the 3D printing industry has grown, FATHOM has grown with it, adding new additive manufacturing systems to its portfolio, as well as expansion into other areas of digital manufacturing including injection molding, urethane casting and design support for all technologies.
With additive manufacturing at its core, the company has been an early customer of many of the sector’s new systems, including the DragonFly 2020 and DragonFly 2020 Pro electronics 3D printers from Nano Dimension. Promoting cross-industry adoption of 3D printing, the company also has an agreement in place with 3D software specialist and authorized Stratasys reseller GoEngineer.
Merging MCT and FATHOM expertise
MCT was founded in Wisconsin in 1980, specializing in model making, industrial design and rapid prototyping. As with FATHOM, additive manufacturing is just one part of the MCT’s service offering. In this department, the company has capabilities for DMLS, SLS, FDM and PolyJet, it also offers CNC machining and injection molding services. Recently, MCT has been expanding its team in Hartland, Wisconsin, and has also completed construction on a large headquarters.
Ryan Martin is CEO at MCT. According to Martin, “Both [MCT and FATHOM] offer differentiated engineering expertise, exceptional customer service and a long-tenured track record of successfully partnering with leading companies across myriad end markets to provide the best in modern manufacturing, from prototype to production.”
In addition, he says, “We are very pleased to complete this acquisition and look forward to working closely with the FATHOM team to help drive further value into the business.”
Stump adds, “On behalf of my Co-Founder, Michelle, and the entire FATHOM team, we’re proud to partner with CORE and MCT,”
“This is a very exciting time for FATHOM, especially given the growing demand for dynamic additive manufacturing services to transform how products are designed and manufactured. “
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Featured image shows the FATHOM company logo. Image via FATHOM