Chicago-based private equity firm Core Industrial Partners LLC has completed its reacquisition of Fathom Digital Manufacturing Corp., taking the digital manufacturing service provider private for the first time since 2021.
Fathom Class A common stock has ceased trading as a result of the deal and will no longer be listed on the New York Stock Exchange, a May 22 news release said.
In November, Core sent Fathom a nonbinding offer for $4.50 per share for the portion of Fathom that it did not already own.
Fathom went public through Altimar Acquisition Corp. II, a special-purpose acquisition company (SPAC), in December 2021, but Core retained a majority stake in the company.
Stockholders approved the acquisition of Fathom's outstanding shares on May 17.
"Core has been a close partner to Fathom since 2018," T.J. Chung, senior partner of Core and chairman of Fathom's board of directors, said in the release. "We … are excited to work with the Fathom team."
"Core's continued partnership and support will help Fathom fulfill its mission to accelerate manufacturing innovation for some of the largest companies in the world," Carey Chen, CEO of Fathom, said. "We look forward to partnering with CORE as we continue to work to grow our business and improve Fathom for the benefit of our employees and customers."
Hartland, Wis.-based Fathom specializes in additive manufacturing and 3D printing, including prototyping and low-volume production, CNC machining, injection molding and tooling, sheet metal fabrication, and design and engineering for end markets including technology, defense, aerospace, medical, automotive and IOT.
Fathom operates 10 facilities in the U.S. covering nearly 420,000 square feet.