The 3D printing specialist VisionMiner has acquired the manufacturing service provider AddWise for 14 million US dollars. With this step, VisionMiner intends to expand its production capacities and strengthen its global presence.
According to the company, VisionMiner recently recorded sales growth of 120 percent. Profitability is above the industry average. As a debt-free company, VisionMiner believes it is well positioned for further growth. The company is aiming to increase its business tenfold in the near future.
VisionMiner specializes in high-temperature materials for 3D printing. Its customers include well-known companies and organizations such as NASA, Northrop Grumman, Lockheed Martin, SpaceX, Tesla and the US Air Force and Army. For NASA, for example, VisionMiner was able to produce a complex component made of carbon fiber-reinforced PEEK for the filter system of new spacesuits.
Patrick Smith, founder and CEO of VisionMiner, sees the acquisition as an important milestone: “By combining our 8 years of industry experience with AddWise’s advanced manufacturing capabilities, we can offer our global customers even more innovative and reliable industrial 3D printing solutions.”
According to VisionMiner, the acquisition of AddWise is just the beginning of its expansion plans. Further locations in the USA and Europe are to follow. Production at the headquarters will be expanded and supplemented with new automation technology. The company also intends to enter other additive manufacturing market segments with new products.
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