Mcor Bowl Colour IRIS
Mcor Technologies, the developer of the world's only full-colour paper 3D printing system, has received growth capital investment of €6.6 million (£5.3 million, $9 million) from private equity fund manager WHEB Partners.
In a press release issued this week by WHEB (June 2nd), Mcor's innovative technology's environmentally-friendly benefits were highlighted as one of the main selling points for the company's machines due to the fact the printing material is inexpensive reducing total low cost of ownership, while scrap paper can be utilised in the system as well. Moreover, the finished items are fully recyclable unlike their plastic 3D-printed counterparts and the paper can be imprinted with Mcor's specially-developed true colour ink to give it a realistic finish that is superior to other multi-colour 3D printing technologies.
Dr Conor MacCormack, who founded Mcor in 2005 with his brother Fintan, have increased revenues by 800 per cent in two years, counting among their customers architects, design studios, educational institutions and print shops.
MacCormack stated: "We are experiencing strong demand internationally for our products and this investment from WHEB will allow us to deliver on our exciting sales pipeline and, together with WHEB, build Mcor into a global 3D printing company. We now have all the ingredients necessary to create a world-beating 3D printing technology company, with new and innovative products on the horizon."
The London and Munich-based financier's deal with the Dunleer-headquartered 3D printing brand was advised by corporate finance manager for Mcor Pagemill Partners, Mcor's legal adviser Eugene Collins, WHEB legal adviser William Fry and Ernst & Young and Continuum for financial and human resources due diligence respectively.
Partner at WHEB Dr Alexander Domin, who led the transaction, said how much the private equity fund manager is looking forward to working with Mcor and supporting the company's campaign for world domination.
"The 3D printing market has experienced tremendous growth recently and Mcor is well positioned to take advantage of this trend thanks to its truly unique technology," he said. "Mcor’s 3D printers allow objects to be printed in high resolution colour while using environmentally friendly materials that cost five per cent to 20 per cent that of other technologies' models. This potentially saves Mcor's customers hundreds of thousands of dollars over several years of ownership. As such, this deal perfectly exemplifies the resource efficiency and growth opportunity themes in which WHEB invests."