Nano Dimension has paid a total cash sum of $12.9 million for Admatec/Formatec (net of its cash)
The latest smart move from Nano Dimension is the acquisition of ceramic & metal 3D printing company Admatec Europe B.V. as well as 3D printing service bureau Formatec Technical Ceramics B.V. The announcement follows the recent acquisition of Global Inkjet Systems Ltd. (GIS), a UK-based expert high-performance control electronics, software, and ink delivery systems.
Both companies that join Nano Dimension today belong to Netherlands-based Formatec Holding B.V and are respectively known for their complementary services on the market. Admatec’s additive manufacturing systems for ceramic and metal end-user parts are powered by digital light processing technology and can produce materials with superior mechanical, electrical, thermal, biological, and chemical properties.
Formatec’s industrial production service division on the other hand, combines the advantages of injection molding and additive manufacturing. Both means of production have served as a strategic advantage in working with customers, from early-stage ideas into serial production of end-use parts.
Jaco Saurwalt, Chief Operating Officer of Admatec/Formatec, who is joining Nano Dimension as the Head of its Admatec/Formatec Division, commented, “The teams across Admatec and Formatec are excited to become a part of Nano Dimension. We are proud of how we have developed this business and are convinced that we shall be able to expand and accelerate our growth based on our present technology and services. We expect that the combined expertise with Nano Dimension will further establish a leading position in the high-mix-low-volume metal 3D-AM production markets.”
Admatec/Formatec has shown promising financial results under strenuous circumstances of its parent company, indicating that accelerated growth based on its innovative technology can be expected. The business delivered $5.3 million in revenue with a gross margin of 56% in 2021. Nano Dimension has paid a total cash sum of $12.9 million for Admatec/Formatec (net of its cash).
Within the portfolio of the expert in Additively Manufactured Electronics, one finds a combination of companies that specializes in deep learning-based AI, additive manufacturing, materials science, and robotics. This expertise is planned to enable advanced breakthroughs across the Admatec/Formatec set of solutions and expected to drive tremendous competitive edges for customers.
To date, Nano Dimension has focused on AME and Micro-AM. As the Company advances, offering new Admatec/Formatec product types will harness the ability for customers to print larger parts – going in size from millimeters to multiple centimeters/inches. This is all further enhanced by the combination of possibilities for Nano Dimension with 3D-Addititve Manufacturing integrated with Metal Injection Molding.
Commenting on the complementary strength brought by these acquisitions, Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension states: “No less important, is our intention to use our deep learning-based artificial intelligence technologies, from our DeepCube acquisition, to become the “robotic brains” for Admatec/Formatec systems. We expect this will improve yield and throughput and drive a more seamless integration with Nano Dimension’s Fabrica systems. Admatec/Formatec’s machines and services fit the larger picture of Nano Dimension’s vision, aiming to establish “Industry 4.0” solutions, which entail building an AI-based “distributed digital manufacturing application” rather than just machines as capital equipment. The end goal is to reach a capability for maintaining digital inventory of high-end printed mechanical parts in digital form: print them as you need them, where you need them, only the quantity you need, in the best quality at competitive prices, with the highest yield and throughput possible for that point in time, specifically for high mix/low volume scenarios.”
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