Oakland, California — September 26, 2019 — FATHOM, an advanced manufacturer with expertise in 3D printing and additive manufacturing, announced today it has been acquired by CORE Industrial Partners (“CORE”), a Chicago-based private equity firm. The acquisition will bring together FATHOM and Midwest Composite Technologies (“MCT”), acquired by CORE in 2018, to form one of the largest privately held digital manufacturing service providers in North America.
Headquartered in Oakland, with a second facility in Seattle, FATHOM combines a broad array of in-house additive and traditional manufacturing technologies to provide customers with hybridized solutions that uniquely blend both subtractive and additive methods to push the bounds of innovative product design and development. The team augments these capabilities with mechanical engineering and industrial design support, as well as on-site managed equipment services. FATHOM recently received a United States patent for the systems and methods powering its online digital manufacturing platform.
As a result of the combination, FATHOM customers will be able to leverage MCT’s 35 years of 3D printing manufacturing engineering expertise and 150,000 square feet of manufacturing space across three U.S. facilities with over 80 plastic and metal additive machines. The expanded offering provides enhanced capabilities, increased capacity, and shorter lead times, allowing customers to accelerate their product development and on-demand manufacturing needs.
“Our accelerated growth over the past ten years has been a direct result of our talented employees, world-class customers and innovative technologies to provide an impactful manufacturing experience to our customers,” said Michelle Mihevc, Co-Founder and Principal at FATHOM. “This acquisition by CORE and coming together with MCT will provide 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 in North America,” said Rich Stump, Co-Founder and Principal at FATHOM.
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 3D printing and 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.”
Matthew Puglisi, MCT Board Director and Partner at CORE said, “The acquisition of FATHOM aligns well with our previously stated intention to build a leading Industry 4.0 additive manufacturing company. 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.”
FATHOM is driven by advanced technologies that enhance and accelerate today’s product development process. Innovatively compressing industry-standard lead-times, FATHOM uniquely blends additive technologies and materials with legacy manufacturing methods to help companies put satellites into orbit, electric cars on freeways, and a variety of devices into people’s hands and homes. FATHOM’s team of experts specialize in additive and traditional manufacturing services (CNC machining, urethane casting, tooling, and injection molding), plus hybrid processes (blending additive with subtractive and formative methods to achieve results not previously possible). The company also offers industry-leading mechanical engineering and industrial design support, as well as on-site managed equipment services. FATHOM has been recognized by Inc. Magazine as one of the fastest growing private companies for seven consecutive years and holds an ISO 9001:2015 certification and ITAR registration. To learn more, visit studiofathom.com.
About Midwest Composite Technologies:
Midwest Composite Technologies is a leading Additive Manufacturing company that provides prototype and on-demand production components for a variety of end markets, including medical, aerospace, research & development, consumer and general industrial. Founded over 35 years ago, MCT has grown to a leader at the forefront of the Industry 4.0 advanced manufacturing revolution, with a 120,000 square foot facility that houses industry-leading capabilities across both traditional and additive technologies. MCT uniquely blends our 3D printing and deep engineering expertise with unmatched in-house capabilities across plastic additive, metal additive, and traditional subtractive methods along with industrial design capabilities. MCT works collaboratively with our industry-leading customers to accelerate their new product development and on-demand production needs. MCT holds an ISO 9001:2015 certification and ITAR registration. To learn more, visit www.midwestcomposite.com.
About CORE Industrial Partners:
CORE Industrial Partners is a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience and a proven track record of building market-leading businesses. Through our capital, insight and operational expertise, CORE partners with management teams to create unique value, grow revenues and consistently deliver lasting results. For more information, visit www.coreipfund.com.