3D Systems Exiting Service-Bureau Business, Sells On-Demand Manufacturing Unit
June 3, 2021Comments
3D Systems announced that it has agreed to sell its On Demand Manufacturing business to Trilantic North America, a private equity firm, for $82 million, subject to certain closing conditions and adjustments. The sale, expected to complete in 2021’s third quarter, includes the company’s On Demand Manufacturing experts and facilities in Lawrenceburg, TN; Seattle, WA; Le Mans, France; Pinerolo, Italy; and High Wycombe, England. The On Demand Manufacturing unit will be rebranded under Trilantic North America’s ownership as Quickparts, and will offer advanced and rapid manufacturing services, including additive and subtractive capabilities. 3D Systems will continue its collaboration with Quickparts after the sale closes to support shared customers.
“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 (AM) continues to expand,” says Dr. Jeffrey Graves, 3D Systems president and CEO. “The On Demand Manufacturing business, with its focus on the rapid production of components using multiple digital manufacturing methods, is a solid business with a very bright future under the stewardship of Trilantic North America.
“Our sole reason for divestiture,” he continues, “is to enable our entire focus and investment priorities to be on AM, 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 AM and are confident that, with the focus this brings to both organizations, 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 AM 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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