Prototek Holdings LLC-to not be confused with Italy-based Prototek (now owned by Dedem Group), additionally a number one provider of AM companies-accomplished the acquisition of Midwest Prototyping LLC, one of many US’ largest impartial additive manufacturing services businesses and a frontrunner in digital manufacturing. The transaction closed on July 15, 2021.
As a leading national supplier of rapid prototyping – navigate to this web-site – and low volume manufacturing services for precision machined and sheet metal fabricated components, Prototek Holdings carried out the transaction to hitch forces with Midwest Prototyping at an thrilling point in the expansion of each corporations, allowing them to offer a single vacation spot for increasingly complicated prototyping and rapid prototype low-volume manufacturing wants of shoppers.
The mixed company will likely be in a position to supply a full suite of sheet metal, CNC, and additive manufacturing capabilities with a fleet of more than 140 machines. In addition, rapid prototyping it’ll enable both corporations to serve a extra geographically diverse customer base with areas near technology hubs in the Northeast, Silicon Valley and the Midwest. The company will proceed to operate in all current Prototek and Midwest Prototyping locations, with a complete of 237 staff.
“We recently acquired Prototek to assist its progress prospects and expansion into digital and on-demand manufacturing. Merging the Midwest Prototyping workforce and additive manufacturing capabilities with Prototek’s already robust offerings is a superb first step to advance this technique,” added John Pless, Partner, TruArc Partners. “We expect this to be the start of great further investments in organic and inorganic initiatives that may position the corporate to capitalize on a dynamic industrial manufacturing market.”
Terms of the transaction weren’t disclosed. Parker Poe Adams & Bernstein LLP served as legal counsel to TruArc Partners and Prototek. Stifel Global Technology Group acted as exclusive monetary advisor to Midwest Prototyping in reference to the transaction. Murphy Desmond S.C.