Desktop Metal Inc. announced the signing of a definitive agreement to acquire EnvisionTEC, a leading global provider of volume production photopolymer 3D printing solutions for end-use parts, for total consideration of $300 million, consisting of a combination of cash and newly issued Desktop Metal stock. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Following completion of the acquisition, EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal. EnvisionTEC founder Al Siblani will continue to serve as CEO of the EnvisionTEC business.
“I’m thrilled to partner with Al and the EnvisionTEC team to bring significant growth to the additive market,” says Ric Fulop, founder and CEO of Desktop Metal. “EnvisionTEC is a true pioneer and responsible for many of the leading technologies widely used today to produce end-use photopolymer parts through additive manufacturing. Together, Desktop Metal and EnvisionTEC have an opportunity to shape the future of Additive Manufacturing 2.0 and transform how parts are made around the world. I look forward to welcoming EnvisionTEC to the Desktop Metal team to deliver world-class additive manufacturing solutions that help make our customers successful.”
“I am excited and honored to partner with Ric and the Desktop Metal team to deliver end-use parts in both metal and polymers as we implement Ric’s vision on the future of Additive Manufacturing 2.0,” says Siblani. “Bringing the two companies together will deliver a global footprint of customers that can cross-benefit from our combined technology platforms. I believe we have many opportunities to scale the business, disrupt traditional manufacturing, expand our customer base, and create value for our shareholders.”
Newly acquired plant and operations will join ARCH Medical Solutions.
ARCH Global Precision has acquired LISI Medical Jeropa Inc. located in Escondido, California. A subsidiary of LISI Medical, the Jeropa plant is a leading contract manufacturer of high-precision medical implants, instruments, and other devices serving a variety of segments in the orthopedic, dental, and cardiovascular markets. The newly acquired plant and operations will join ARCH Medical Solutions, bolstering ARCH as a diversified supplier noted for growth and scale within the medical device market. The acquired facility features an impressive breadth of core competencies and provides a strategic location supporting contract manufacturing demands across the United States and beyond. These advanced competencies are highly complementary to the existing manufacturing capabilities at ARCH Medical Solutions locations across the country.
“LISI Medical Jeropa broadens the portfolio of products and end markets served by ARCH Medical Solutions,” says Paul Barck, president of ARCH Medical Solutions. “We are excited about this new location, which becomes ARCH Medical Solutions – Escondido, and the capable team that will be joining AMS. The added capabilities in micro-machining, tight-tolerance instrument assemblies, and operations that span prototype to production scale dovetail nicely with our growing customer base and medical device contract manufacturing service offerings.”
Protolabs creates world’s broadest digital manufacturing offer for custom parts.
ProtoLabs Inc., a global technology-enabled digital manufacturing leader, has entered into a definitive agreement to acquire 3D Hubs Inc., a leading online manufacturing platform that provides engineers with on-demand access to a global network of approximately 240 premium manufacturing partners. The transaction creates the world’s most comprehensive digital manufacturing offer for custom parts, providing Protolabs with a network of manufacturing partners to fulfill a breadth of capabilities outside of its current envelope, as well as a broader offering of pricing and lead time options.
“The addition of 3D Hubs provides Protolabs a platform to evolve our service model to provide unprecedented manufacturing flexibility to our customers,” says Rob Bodor, Protolabs’ current VP and GM of the Americas and incoming president and CEO. “Our combined organizations will provide the market an industry-leading digital manufacturing solution to serve their needs from idea to prototype to full end-use part production. Together we can fulfill nearly every custom manufacturing need across the product life cycle.”
Founded in 2013, 3D Hubs has facilitated the production of over 6 million custom parts and products through its digital platform. 3D Hubs provides customers with instant pricing and design feedback, and orders are fulfilled through thoroughly vetted premium manufacturing partners in over 20 countries worldwide, offering vast manufacturing capacity and a broad range of manufacturing capabilities at a variety of competitive pricing levels.
“The entire 3D Hubs team is thrilled to join Protolabs and continue to revolutionize the manufacturing industry through innovation. At 3D Hubs, our goal is to empower companies to create revolutionary products through supply chain efficiency and reliability. We are confident that partnering with Protolabs will help us advance that mission,” says Bram de Zwart, co-founder and CEO at 3D Hubs.
“3D Hubs’ company culture lives and breathes engineering and fast-paced innovation; our team is very excited to partner with Protolabs to build the best on-demand manufacturing solution imaginable,” says Brian Garret, 3D Hubs’ co-founder and chief product officer.
“The acquisition of 3D Hubs is part of the continued evolution of Protolabs as the digital manufacturing leader, serving more and more of our customers’ needs,” says Vicki Holt, Protolabs’ CEO. “Protolabs’ leading in-house technology-enabled manufacturing services combined with 3D Hubs’ global network of premium manufacturing partners will yield the greatest value to our customers for years to come.”
CORE Industrial Partners announced the acquisition of Mark Two Engineering LLC.
Mark Two is the third acquisition to the Incodema platform to close in the past month, joining recently acquired Dahlquist Machine and Majestic Metals to form a leading nationwide precision manufacturing services provider aligned with Industry 4.0 trends for on-demand production across sheet metal fabrication, CNC machining and photochemical etching. The combined entity offers a broad assortment of manufacturing and finishing capabilities for customers in a variety of end markets, including medical, electronics, aerospace and defense, and industrial, among others.
Founded in 1996 and headquartered in Miami Lakes, Florida, Mark Two specializes in complex high-precision machining and manufacturing for established medical device OEMs. The company provides components, surgical equipment, and implant systems across multiple product platforms through a full suite of modern CNC technologies and equipment, including swiss screw machines, lathes, multi-axis mills and grinders. Mark Two is ISO 9001 certified, ISO 13485 certified and FDA registered.
TJ Chung, senior partner of CORE, says, “Mark Two is consistently viewed by customers as a strategic manufacturing partner driven by its strong technical capabilities, consistent product quality and collaborative approach to customer service. Mark Two’s CNC machining capabilities are an ideal fit with the sheet metal capabilities of Incodema, and this transaction provides important geographic and end market expansion.”
Carey Chen, CEO of Incodema Holdings, says, “Mark Two Engineering brings naturally complementary capabilities to us including CNC milling, CNC turning, and CNC grinding. We are also pleased that Mark Two Engineering’s continuous dedication to quality has led to a solid foothold in the medical device and components arena, a strategic end market that we are working to expand.”
Cheryl Box, CEO of Mark Two, says, “On behalf of myself and all Mark Two employees, we are very pleased to join the Incodema team. With the financial, strategic, and operational support of Incodema and CORE, Mark Two will have the resources to drive very exciting growth initiatives that will position us to even more effectively serve our valued customers.”