Oct 28, 2016 | By Benedict
Florida-based metal 3D printing company Atlantic Precision Inc. has been bought by Precision Castparts Corp., an Oregon-based diversified manufacturer of complex metal components and products. Previous owner Generation Growth Capital Inc. bought Atlantic Precision just two years ago.
Atlantic Precision, based in Port St. Lucie, Florida, is a metal 3D printing specialist with a foothold in the aerospace industry. The company offers a range of services, including direct metal laser sintering, for rapid prototyping or production. In October 2014, Generation Growth Capital invested in Atlantic Precision to bulk up the Florida company’s development division. Two years on, and Generation Growth has decided to pass on the 3D printing specialist to a new buyer.
According to Generation Growth, Atlantic Precision experienced rapid growth in its core markets during the two-year spell. "When GGC was first introduced to the team at API, we recognized their initial efforts in additive manufacturing could be a real game changer for prototyping and manufacturing in the aerospace markets,” said Generation Growth managing director John Reinke.
3D printing facilities at Atlantic Precision Inc.
"API represented a model investment for GGC,” added Cory Nettles, founder and managing director of Generation Growth. “We were able to provide capital and a business support system that helped the company execute on an aggressive investment and growth strategy.”
Precision Castparts Corp., buyer of Atlantic Precision, is a world leader in structural investment castings, forged components, and airfoil castings for aircraft engines and industrial gas turbines. The company is based in Portland, Oregon, and lists Airbus, Boeing, GE, and Rolls-Royce amongst its many high-profile clients.
In addition to its legacy operations, Precision Castparts has grown its business on the back of several acquisitions of smaller businesses which complement its own vision. “With a focus on aerospace and power markets, acquisition candidates are selected in accordance with our core capabilities: production of complex components for critical applications; a direct relationship with the original equipment manufacturer; process control; similarity in metals or technologies; and improvement of underperforming assets,” the company explains.
Atlantic Precision Inc. location
Since Precision Castparts currently specializes in casting and forging, the acquisition of an additive manufacturing venture like Atlantic Precision could mark the beginning of a new focus area for the company. Atlantic Precision’s experience in the aerospace sector will no doubt help aid its interactions with the new parent company.
Atlantic Precision currently offers DMLS 3D printing services in Inconel 625, Inconel 718, Cobalt Chrome, Aluminum, and Titanium, though other materials are available on request. The company uses an EOS Metal Laser-sintering system EOSINT M280 with 400W Laser (x3) and an EOS Metal Laser-sintering system EOSINT M400 with 1000W Laser, and also offers other services such as inspection, welding, and CNC machining.
Posted in 3D Printer Company
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