Chicago private equity firm Core Industrial Partners continues to build its base in additive manufacturing, announcing Sept. 26 that its Midwest Composite Technologies portfolio company has purchased Fathom, a West Coast company specializing in AM and 3D printing.
Core is looking for other acquisitions.
Fathom is based in Oakland, Calif., and runs a second facility in Seattle. Terms of the sale were not disclosed.
The combined company now has more than 80 3D printing machines and more than 150,000 square feet of manufacturing capacity across the three plants. Midwest Composite Technologies, acquired by Core Industrial Partners in 2018, is based in Hartland, Wis.
Core said the combined companies make up one of the largest independent additive manufacturing operations in the region.
"The acquisition of Fathom brings together two of the leading additive manufacturing firms in North America," said Ryan Martin, CEO of Midwest Composite.
Fathom has a broad range of in-house AM technologies, including fused-deposition modeling, multijet fusion, polyjet printing, selective laser sintering and stereolithography. The company also does injection molding, tooling, CNC machining and urethane casting.
Core Industrial Partners is building an Industry 4.0 additive manufacturing company, said Matthew Puglisi, a partner at Core.
"From customer bases to technical expertise and additive manufacturing capabilities, MCT and Fathom are highly synergistic, and we're looking forward to further building out the platform through additional complementary acquisitions and continued organic growth," Puglisi said.
Core Industrial Partners invests in lower middle-market manufacturing and industrial technology businesses. The firm has more than $240 million of assets from a diversified base of institutional investors.