3D Systems has announced an agreement to sell its On Demand Manufacturing business to private equity firm Trilantic North America for $82 million.
The deal is subject to certain closing conditions and adjustments and includes the company’s experts and facilities in Lawrenceburg, Tennessee; Seattle, Washington; Le Mans, France; Pinerolo, Italy; and High Wycombe, England. Under the control of Trilantic North America, the 3D Systems On Demand Manufacturing business will be rebranded as Quickparts and offer the same advanced manufacturing services encompassing both additive and subtractive technologies. After the sale closes, 3D Systems has confirmed it will work with Quickparts to support shared customers.
3D Systems decision to sell the On Demand business follows the divesture of the Cimatron CAD/CAM business last year for $65m and forms part of a strategy led by new CEO Dr Jeffrey Graves to focus efforts on being the ‘leader in enabling additive manufacturing solutions for applications in growing markets that demand high-reliability products.’ The company expects the deal to be completed in the third quarter of 2021.
“We are continuing to aggressively execute our four-phase plan that we announced a year ago, to position the company for exciting growth and profitability as the market for industrial-scale additive manufacturing continues to expand,” commented Graves. “The On Demand Manufacturing business, with its focus on the rapid production of components using a multitude of digital manufacturing methods, is a solid business that has a very bright future under the stewardship of Trilantic North America. Our sole reason for divesture is to enable our entire focus and investment priorities to be on additive manufacturing, where we play a unique leadership role in enabling industrial-scale AM adoption across a range of exciting 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 positions, 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.”
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