Additive manufacturing solutions company 3D Systems has agreed to sell its On Demand Manufacturing business to Trilantic North America, a growth-focused middle-market private equity firm, for a purchase price of $82 million.
The company’s On Demand Manufacturing segment, which will be rebranded under Trilantic North America’s ownership as Quickparts, offers a variety of advanced and rapid manufacturing services, including additive and subtractive capabilities.
3D Systems President and CEO, Dr Jeffrey Graves said the sale includes the company’s On Demand Manufacturing experts and facilities in Lawrenceburg, Tennessee; Seattle, Washington; Le Mans, France; Pinerolo, Italy; and High Wycombe, England.
He said the move was in line with the company’s new strategy to focus on its strategic purpose as the leader in enabling additive manufacturing solutions for applications in growing markets that demand high-reliability products.
“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,” Dr Graves said.
“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 divestiture is to enable our entire focus and investment priorities to be on additive manufacturing (AM), where we play a unique leadership role in enabling industrial-scale AM adoption across a range of exciting end markets.”
The transaction is expected to complete in the third quarter of 2021.