Nano Dimension Ltd., a leading provider of Additively Manufactured Electronics (AME) and multi-dimensional metal and ceramic Additive Manufacturing 3D printers, announced the acquisition of Formatec Holding B.V, which includes its two subsidiaries, Admatec Europe B.V. (“Admatec”) and Formatec Technical Ceramics B.V. (“Formatec”) to expand its metal and ceramic AM portfolio.
Under the difficult circumstances of its parent company, Admatec/Formatec has shown promising financial results, indicating that accelerated growth based on its innovative technology can be expected. In 2021, the company generated $5.3 million in revenue with a gross margin of 56%. Nano Dimension paid a total of $12.9 million in cash for Admatec/Formatec (net of its cash).
Admatec/Formatec to expand into Metal and Ceramic AM Portfolio
In 2012, Formatec, an established Ceramic Injection Molding (CIM) company that later pioneered 3D printing with ceramics, collaborated with Energy Center Netherlands (ECN), an experienced research institute, to launch a project with the goal of changing the traditional manufacturing industry and its associated limitations through the formation of a new company: Admatec.
The company, which was founded in 2013, has created a patented Admaflex Technology, the Admaflex 130, which was released in 2016. Later, the company expanded its portfolio to include metals and pursued methods to simplify complex ceramic and metal 3D printing in a customized manner.
Admatec/Formatec, based in the Netherlands, is made up of two complementary businesses that used to be part of Precision Surfacing Solutions in the United States. It is a market leader in metal and ceramic AM portfolio for end-use parts. Its industrial-grade systems, which are powered by digital light processing technology, use materials with superior mechanical, electrical, thermal, biological, and chemical properties to manufacture a wide range of parts for medical, jewelry, industrial, and investment casting applications.
Admatec/industrial Formatec’s production service division, through its service bureau platform that combines the benefits of injection molding and additive manufacturing, is a design-to-production partner for industrial-scale customers. From early-stage ideas to serial production of end-use parts, both methods of production have provided a strategic advantage in working with customers.
Admatec/Formatec are now poised for even greater success within the Industry 4.0 landscape, which Nano Dimension is at the forefront of transforming with its combination of deep learning-based AI, additive manufacturing, materials science, and robotics, according to Nano Dimension. This expertise is expected to drive tremendous competitive advantages for customers by enabling advanced breakthroughs across the Admatec/Formatec set of solutions.
Broadening the Reach of Admatec/Formatec’s Portfolio
The Nano Dimension go-to-market platform is designed to accelerate and broaden the reach of Admatec/products Formatec’s and services to expanding markets, particularly in the United States and Europe, where a tailwind of macro trends is driving demand for additive manufacturing (AM) while onshoring and localizing high-mix low-volume manufacturing.
Nano Dimension will add two critical aspects to its AM offering with Admatec/Formatec: materials and new product types. Materials have always been and will continue to be the foundation of a successful AM offering. Because of breakthroughs in driving additively manufactured electronics with both conductive and dielectric materials, Nano Dimension is already at the forefront of materials science. Ceramics and metals, two critical materials for developing applications and end-use parts, will now be available to Nano Dimension.
Nano Dimension has so far concentrated on AME and Micro-AM. As the company grows, new Admatec/Formatec product types will enable customers to print larger parts ranging in size from millimeters to multiple centimeters/inches. All of this is enhanced by the combination of Nano Dimension possibilities with 3D-Additive Manufacturing integrated with Metal Injection Molding.
“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 metal 3D-AM production markets.”– Jaco Saurwalt, Chief Operating Officer of Admatec/Formatec, who is joining Nano Dimension as the Head of its Admatec/Formatec Division
Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension, shared, “Admatec/Formatec’s scientists, engineers and other team members, all of whom joined Nano Dimension upon closing of this transaction, are experts and industry veterans in AM 3D-industrial processes. They are going to continue to be led by their present management team.” Mr. Stern added, “Admatec/Formatec’s products and services expand Nano Dimension’s Fabrica Division, adding volume manufacturing capabilities to the high precision micro-mechanical Fabrica 2.0 systems.”
Mr. Stern concluded, “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. Admatec/Formatec’s machines and services fit the larger picture of Nano Dimension’s vision, aiming to establish “Industry 4.0” solutions, which entail building an AI-based “distributed digital manufacturing application” rather than just machines as capital equipment.”
Mr. Stern continued, “The end goal is to reach a capability for maintaining digital inventory of high-end printed mechanical parts in digital form: print them as you need them, where you need them, only the quantity you need, in the best quality at competitive prices, with the highest yield and throughput possible for that point in time, specifically for high mix/low volume scenarios.”
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