Private equity firm Core Industrial Partners has acquired San Diego, Calif.-based GoProto Inc. for its portfolio company Re3DTech, a Grayslake, Ill.-based additive manufacturer with a focus on high-volume production parts.
Founded in 2016, GoProto offers additive and traditional manufacturing services for prototypes and production parts for the medical, electronics, consumer, automotive, aerospace and defense, automation and industrial markets.
GoProto is primarily focused on multi-jet fusion, fused deposition modeling, selective laser sintering, stereolithography, and polyjet printing. The company also uses in-house technologies to manufacture production-grade parts
The acquiring company, Re3DTech, was founded in 2017 and serves the aerospace and defense, consumer, technology, industrial, automotive and medical markets with AM technologies like direct metal laser sintering and multi-jet fusion.
Chicago-based Core Industrial Partners announced in January it had acquired Re3DTech to launch the platform to meet the growing market for high-volume production.
Combined with GoProto, the companies form an additive manufacturing platform focused on production parts utilizing Industry 4.0 capabilities, according to a news release about the deal.
Terms weren't disclosed.
The transaction brings Re3DTech new customers, manufacturing expertise and a talented leadership team, according to Core partner Matthew Puglisi.
"Notably, the company's extensive in-house multi-jet fusion offering is uniquely suited to serve the expanding market for higher-volume additive production. We're excited to leverage Core's sector experience as we partner with management and work to expand the platform," Puglisi said.
The private equity firm says it has invested $700 million in North American lower middle-market manufacturing, industrial technology and industrial services businesses.
"We believe the complementary additive manufacturing capabilities of GoProto and Re3DTech will yield immediate benefits for our customers," GoProto President and CEO Jesse Lea said. "In addition, our partnership with Core will provide the resources necessary to further expand our compelling customer value proposition."
GoProto holds ISO 9001:2015 and AS9100 certifications as well as a registration with the International Traffic in Arms Regulations, which is how the U.S. government tracks the shipment and activities of companies involved with defense-related products, services, and data.
Core previously made several acquisitions of plastic molding, tooling, 3D printing and metals firms as part of its Fathom portfolio of AM companies. In February 2021, the firm added injection molder Summit Plastics Inc. and related company Summit Tooling to the portfolio.