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Jan 24, 2017 | By Tess

Galenfeha, Inc., a Texas-based engineering, manufacturing, and product development company, has announced plans to acquire Additive Manufacturing LLC for $14 million in cash, and has signed a letter of intent to acquire the 3D printing company. In addition to the proposed acquisition, Galenfeha, Inc. has also introduced a new member to its team: Ron Barranco, who, with over 40 years experience in the manufacturing industry, will take on the role of chief technology officer (CTO).

Founded in 2013 by James Ketner, Galenfeha, Inc. has been careful not to over-emphasize its acquisition proposal for Additive Manufacturing, LLC, for investment purposes. As Ketner states: “Do not get consumed by irrational exuberance regarding the Letter of Intent disclosure we filed with the commission today. The acquisition has not been finalized; there are countless things that can go wrong on a deal like this; and we expect to have to face them all.” He then draws attention to a cautionary note for investors on the company’s website.

Additive Manufacturing LLC, a professional 3D printing solutions service based in San Juan Capistrano, California, has worked for over two decades to help its clients explore the benefits of new and traditional manufacturing technologies such as 3D printing, CNC machining, injection molding, and more. The company’s 3D printing services include various processes, such as FDM, DMLS, EMB, Polyjet, SLA, and SLS. Its clients include such illustrious companies as Google, Honeywell, GE, Tesla, NASA, Cisco, and more.

Additive Manufacturing LLC's EBM service

Though it is unclear whether the $14 million acquisition proposal will be accepted, new CTO Ron Barranco expects that if it does, Galenfeha, Inc. will be primed for significant growth. He said in a press release: “I'm more than excited about joining the Galenfeha team. The mission statement of the company is exactly what I was looking for in order to bring recently developed technology into the market place of additive manufacturing and 3D printing. With President Trump's commitment of bringing manufacturing back to the U.S., I believe the acquisition of Additive Manufacturing, LLC, combined with new technology I bring to Galenfeha, will position us for significant growth in the near future.”

While we wouldn’t rely too much on President Trump’s commitments or promises, Barranco’s own experience in the manufacturing sector certainly seems promising for the company. Not only did he co-found Hunter Hawk, a product engineering company, and 3D Guys, a CNC machine shop and aluminum foundry, he also started stereolithography.com in the 1990s, establishing himself as a pioneer in the industry, and developed Print3D software, which was sold to 3D Systems in 2011 (resulting in an arbitration case through which Barranco received $11 million).

Additive Manufacturing LLC's SLA service

In addition to the letter of intent to acquire Additive Manufacturing LLC and naming Ron Barranco as CTO, Galenfeha, Inc. also announced that it has signed a purchase agreement to sell the Daylight Pump division inventory to a Houston, Texas firm to pay off the company’s debts, and has retired and cancelled additional shares from the common share structure.

 

 

Posted in 3D Printer Company

 

 

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