3D Systems has announced it is to sell its On Demand Manufacturing business to a venture capital fund, with the Quickparts sale said to cost $82 million.
The move will impact 3D Systems On Demand Manufacturing facilities in Lawrenceburg, Tennessee; Seattle, Washington; Le Mans, France; Pinerolo, Italy; and High Wycombe, UK.
The On Demand Manufacturing service was expanded across Europe following the company’s launch on the New York Stock Exchange in 2011. Among these were Phenix Systems, France, bought for $15.1M; UK-based CRDM, added for around $6.4M and Belgian metals AM experts LayerWise for $41.9M.
3D Systems CEO Dr. Jeffrey Graves said that the sole reason for the divestiture is to enable the company’s focus and investment priorities to be on developing additive manufacturing and industrial-scale adoption across a range of end markets.
“We will continue to collaborate with the Quickparts business as it relates to additive manufacturing and are confident that, with the focus this brings to both organisations, the future will be bright for all stakeholders.
“With a very strong balance sheet and cash position, proceeds from the sale will be used to further accelerate our investments for growth in our core additive manufacturing capabilities, for which we are seeing rapidly rising demand in new, extraordinary applications ranging from the human body to electric vehicles and space travel.”
3D Systems announced earlier this month that the company is investing in a 50,000 square foot expansion of its presence in Littleton, Colorado to expand its healthcare and industrial application development and advanced production capabilities.
Through this infrastructure investment, the company is looking to add expertise and the most advanced metal additive manufacturing technologies to address new, more complex industrial applications such as those for aerospace, automotive, semiconductor, and energy.
Trilantic North America, is a middle-market private equity firm, with Quickparts continuing to offer a variety of advanced and rapid manufacturing services, including additive and subtractive capabilities.
3D Systems plans to add both plastics and metals technologies to its Rock Hill, South Carolina location, including the recently announced ‘Roadrunner High Speed Fusion’ 3D printing system.
