Chicago-based private equity firm CORE Industrial Partners aka “CORE” announced that CORE portfolio company Midwest Composite Technologies (“MCT”) has acquired additive manufacturing company FATHOM.
CORE aims to transform the “Company” into one of the largest global independent AM companies. This integration into MCT makes the new company more equipped in terms of 3D printing systems. Indeed, FATHOM now counts more than 80 3D Printing machines in a wide variety of additive technologies that operate on over 150,000 square feet of manufacturing capacity across three facilities.
FATHOM blends additive technologies and materials with legacy manufacturing methods to help companies accelerate product design & development in the automotive, the aerospace, the industry or in the consumer goods industry. In its manufacturing facility, the services provider includes fused deposition modeling, multi jet fusion, polyjet printing, selective laser sintering and stereolithography, along with CNC machining, urethane casting, tooling and injection molding capabilities. With the recent addition of mechanical engineering and industrial design support, as well as on-site managed equipment services, FATHOM has nothing to envy to other companies.
The manufacturer has recently celebrated two main milestones in its activities: a patent and an award by Inc. Magazine – the one of the fastest growing private companies for seven consecutive years.
Ryan Martin, Chief Executive Officer of MCT, said, “The acquisition of FATHOM brings together two of the leading additive manufacturing firms in North America. Both companies 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. 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.”
Rich Stump, a Principal and Co-Founder at FATHOM, said, “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. We believe the combination with MCT and support from CORE will give the combined platform considerable scale and the financial resources to invest in cutting-edge technologies and infrastructure to be the most accelerated manufacturer of prototypes and production parts.”
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