Nano Dimension Ltd, Waltham, Massachusetts, USA, a specialist in additively manufactured electronics and micro Additive Manufacturing, has signed and closed a definitive agreement to acquire Formatec Holding B.V. (Admatec/Formatec) which includes its two subsidiaries: Admatec Europe B.V. and Formatec Technical Ceramics B.V.
Admatec/Formatec, based in the Netherlands, is a developer and manufacturer of Additive Manufacturing machines for ceramic and metal components. Its industry-grade systems are powered by digital light processing technology and use materials with superior mechanical, electrical, thermal, biological, and chemical properties to produce a range of parts for medical, jewellery, industrial and investment casting uses.
Admatec/Formatec’s service bureau platform combines the advantages of Metal Injection Moulding and Additive Manufacturing for industrial-scale customers. Both means of production have served as a strategic advantage in working with customers, from early-stage ideas into serial production of end-use parts. Nano Dimension will further expand this reach through its experience in deep learning-based AI, materials science and robotics.
Admatec/Formatec has shown promising financial results under strenuous circumstances of its parent company, indicating that growth based on its innovative technology is reliably expected. The business delivered $5.3 million in revenue with a gross margin of 56% in 2021 and is expected to grow annually. Nano Dimension has paid a total cash sum of $12.9 million for Admatec/Formatec (net of its cash).
Jaco Saurwalt, Chief Operating Officer of Admatec/Formatec, who is joining Nano Dimension as the Head of its Admatec/Formatec Division, commented, “The teams across Admatec and Formatec are excited to become a part of Nano Dimension. We are proud of how we have developed this business and are convinced that we shall be able to expand and accelerate our growth based on our present technology and services. We expect that the combined expertise with Nano Dimension will further establish a leading position in the high-mix-low-volume 3D-AM production markets.”
Yoav Stern, chairman and Chief Executive Officer of Nano Dimension, stated, “Admatec/Formatec’s scientists, engineers and other team members, all of whom joined Nano Dimension upon closing of this transaction, are leading experts and industry veterans in AM 3D-industrial processes. They are going to continue to be led by their present management team.”
Stern added, “No less important, is our intention to use our deep learning-based artificial intelligence technologies, from our DeepCube acquisition, to become the ‘robotic brains’ for Admatec/Formatec systems. We expect this will improve yield and throughput and drive a more seamless integration with Nano Dimension’s Fabrica systems.
Discover more about Admatec in PIM International: Making the business case – How sinter-based Additive Manufacturing can compete with Powder Injection Moulding