October 26, 2021

CHICAGO—The private equity firm CORE Industrial Partners LLC has formed a new additive manufacturing platform and completed the acquisitions 3DXTECH LLC, Triton 3D LLC, and Gearbox3D LLC, the company said in a press release.

CORE Industrial Partners provides additive manufacturing equipment—including 3D printers and materials—and services focusing on high-performance material extrusion technologies. The company said in the release that it combines deep materials expertise, research and development capabilities, and a breadth of high-performance filaments that can help customers “optimize product design solutions.” It serves end markets that include aerospace and defense, electronics, medical, automotive, consumer products. and industrials, among others.

Describing its new acquisitions, CORE Industrial Partners said that 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, and Gearbox manufactures industrial-grade, open-source 3D printers using thermoplastic extrusion technology.

The newly acquired companies form an additive manufacturing platform headquartered in Grand Rapids, Michigan. They operate from a state-of-the-art 68,000-square-foot facility with in-house capabilities that include filament extrusion, filament winding, and custom formulation. Its capabilities are also reported to include research and development, 3D printer assembly and testing, and 3D printing services for production and prototype quantities.

“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,” John May, managing partner of CORE, in the release. “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.”

T.J. Chung, senior partner of CORE, said that 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,” he said in the release.

“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,” said Matt Howlett, co-founder of the company, in the release. “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.”

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.

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