CORE Industrial Partners Furthers Its Investment Thesis Into 3D Printing With the Acquisition of 3DXTECH, Triton and Gearbox
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CHICAGO--(BUSINESS WIRE)-- CORE Industrial Partners LLC (“CORE”), a Chicago-based private equity firm, announced today it has formed a new additive manufacturing platform (the “Company”) and completed the acquisitions of 3DXTECH LLC (“3DXTECH”), Triton 3D LLC (“Triton”) and Gearbox3D LLC (“Gearbox”). The Company is a provider of additive manufacturing equipment, including 3D printers, materials, and services focusing on high-performance material extrusion technologies.
3DXTECH provides a broad array of high-performance 3D printing filament for open-source printers and printing services for production and prototype quantities. Triton offers Stratasys compatible 3D printing filament and related 3D printing accessories. Gearbox manufactures industrial-grade, open-source 3D printers utilizing thermoplastic extrusion technology. Founded in 2014, the Company combines deep materials expertise, research and development capabilities, and a breadth of high-performance filaments to allow customers to optimize product design solutions. The Company serves a variety of end markets, including aerospace and defense, electronics, medical, automotive, consumer and industrials, among others.
Headquartered in Grand Rapids, Michigan, 3DXTECH, Triton and Gearbox operate from a state-of-the-art 68,000 square foot facility with in-house capabilities, including filament extrusion, filament winding, custom formulation, research and development, 3D printer assembly and testing and 3D printing services for production and prototype quantities.
John May, Managing Partner of CORE, said, “The investments in 3DXTECH, Triton and Gearbox align with our strategy to build an additive manufacturing platform focused on 3D printing equipment and proprietary materials. We believe the tailwinds from the underlying additive manufacturing sector and broader Industry 4.0 trends, in concert with CORE’s experience and sector expertise, will put the Company in a strong position to capitalize on opportunities moving forward.”
TJ Chung, Senior Partner of CORE, said, “The Company is recognized as an innovative, high-growth platform with a broad range of filaments and a differentiated 3D printer offering. The Company’s ‘materials first’ approach and open-source model resonate with customers and provide a compelling value proposition in the high-performance additive manufacturing equipment and materials space.”
Matt Howlett, Co-founder of the Company, said, “On behalf of my partner Gary Foote, the employees at 3DXTECH, Triton and Gearbox, and me, we’re excited to begin this new chapter in partnership with CORE. We have demonstrated rapid growth since the Company’s founding by successfully pairing our materials expertise with our disruptive 3D printing equipment technology. With CORE’s expertise and resources in the additive manufacturing industry, we’ll be able to further accelerate our growth.”
Winston & Strawn LLP provided legal representation to CORE in the transaction. Burr & Forman LLP provided legal representation to the Company in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies with lasting results. For more information, visit www.coreipfund.com.
3DXTECH LLC (“3DXTECH”) is a provider of high-performance 3D printing filament for open-source printers and related services. 3DXTECH offers in-house filament extrusion, filament winding, research and development services, custom filament formulation and printing services for production and prototype quantities. For more information, visit www.3dxtech.com.
Triton 3D LLC (“Triton”) is a provider of 3D printing filament focused solely on Stratasys compatible materials. Triton offers a broad portfolio of Stratasys compatible 3D printing filaments and related accessories, including build sheets and replacement nozzles. For more information, visit www.triton3d.com.
Gearbox 3D LLC (“Gearbox”) is a provider of industrial grade, open-source 3D printing machines with material extrusion technology. Gearbox provides in-house 3D printer assembly, testing, research and development and printer maintenance services. For more information, visit www.3dxtech.com/3d-printer-gearbox.
Source: CORE Industrial Partners LLC
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