CORE Industrial Partners portfolio company Fathom acquires GPI
Chicago-based private equity firm CORE Industrial Partners' (CORE) portfolio company Fathom has acquired GPI Prototype & Manufacturing Services (GPI), a metal additive manufacturing services provider.
CORE acquired Midwest Composite Technologies in 2018, and FATHOM and ICOMold in 2019. All four companies will be moving forward under the FATHOM brand.
Founded in 2007 as one of the first metal additive manufacturing services providers in the country, GPI uses Direct Metal Laser Sintering (DMLS) to print parts with complex geometries for on-demand manufacturing applications. Utilising a variety of metal powders, including aluminium, stainless steel, tool steel, titanium, inconel and cobalt chrome, GPI works with Fortune 500 companies across diversified end markets. The Company holds ISO 9001, ISO 13485, and AS9100D certifications.
Ryan Martin, Chief Executive Officer of FATHOM, says: “GPI’s ability to leverage metal additive manufacturing accelerates both design cycles and time to market and further enhances FATHOM’s existing metal additive capabilities and our unique customer value proposition. We’re excited to work closely with GPI’s customers as a turnkey partner for on-demand manufacturing, providing a broad array of complementary services and an unparalleled customer experience.”
Matthew Puglisi, Partner of CORE, says: “DMLS is one of the fastest-growing additive manufacturing technologies, both at FATHOM and broadly across the industry, and an important strategic focus as we seek to further strengthen FATHOM’s position as a leading on-demand manufacturer. GPI is widely respected as one of the original metal additive manufacturing services providers, and we believe the combination with FATHOM will be highly synergistic.”
Adam Galloway, President of GPI, says: “Since its founding over a decade ago, GPI has been on the cutting edge of the revolutionary metal additive manufacturing space. This partnership with FATHOM will further benefit our valued customers through an enhanced suite of manufacturing capabilities accompanied by the same excellent customer service, quality and metallurgical expertise for which we’re known.”
Monroe Capital LLC provided financing for the acquisition. Norton Rose Fulbright US LLP provided legal representation to CORE and FATHOM in the transaction.