Vision Miner has acquired 3D printing services company AddWise in a 14 million USD deal.
This strategic move, Vision Miner believes, will enhance its in-house manufacturing capabilities and expand its global footprint.
VisionMiner is said to have achieved a 120% increase in revenue with profitability 'exceeding industry standards.' Thanks to this performance, and the fact that the company is said to be debt-free, VisionMiner believes it is well-positioned for rapid expansion, with projections to grow tenfold in the near future.
Thanks to the company's expertise in high-temperature performance materials, it has been trusted by industry giants such as NASA, Northrop Grumman, Lockheed Martin, SpaceX, Tesla, and the US Air Force and Army. The company's expertise was instrumental in solving NASA's challenge of printing a small part in CF PEEK for the filtration system of their new spacewalk suits. Their parts have also been used in aircraft, military and defence applications, as well as the International Space Station, race cars, oil platforms, and many other critical applications worldwide.
"The acquisition of AddWise is a transformative milestone for Vision Miner," said Patrick Smith, Founder & CEO of Vision Miner. "By combining our 8 years of experience and success in the industry with AddWise's advanced manufacturing capabilities, we are now better positioned than ever to deliver the most innovative and reliable industrial 3D printing solutions to our global customer base.
"Every week, we get the opportunity to work on something new and exciting. Getting to work on so many special and secret projects is simply rewarding. There is never a dull day at Vision Miner."
According to Vision Miner, the acquisition of AddWise is the beginning of its expansion plans, with new facilities to come in the USA and Europe. The factory is expanding its production line while also bringing in new machinery for automation of their other products. With new products in development, Vision Miner will also soon be entering more markets in the additive manufacturing industry. The company has over 25 dealers worldwide, but plans to continue expanding its global presence by accepting new qualified dealers to their team.
"Our mission is to revolutionise the additive manufacturing industry by providing the most advanced, reliable, and cost-effective solutions to businesses worldwide," added Smith. "With the acquisition of AddWise and our ongoing expansion, we are well-positioned to drive innovation and deliver unparalleled value to our customers."
