Fathom debuted on the New York Stock Exchange (NYSE)

On December 27, 2021, the American provider of 3D printing on-demand services – Fathom, made its debut on the New York Stock Exchange (NYSE), becoming another listed joint-stock company in the 3D printing industry. The debut was possible thanks to the merger with the financial company Altimar Acquisition Corp. The Wisconsin Fathom is currently valued at approximately $ 1.5 billion.

As part of the transaction, Fathom raised USD 345 million in net proceeds, including USD 80 million from the main investor – CORE Industrial Partners. It is a Chicago-based private equity fund that acquired a majority stake in Fathom in 2019. Previously, it also acquired Midwest Composite Technologies, thereby creating one of the largest private digital manufacturing service providers in North America with a combined workforce of over 600.

Following its listing on the NYSE, the combined Fathom Digital Manufacturing Corp. will accelerate its strategy for the development of innovative production technologies. According to Fathom, these investments will enable customers to access a diverse, technology-independent solution focused on speed, problem-solving, adaptive technical response and manufacturing expertise, enabling faster iterations and a shorter product development and production cycle.

Fathom was founded in 2008 by Rich Stump and Michelle Mihevc. The company’s first investment was a PolyJet 3D printer by Objet (now Stratasys). Today, Fathom combines a wide variety of additive technologies and traditional manufacturing methods. The service desk provides customers with hybrid solutions that uniquely combine additive, subtractive and formative technologies. In total, it offers over 25 unique production processes in 12 plants.

The company works with reputable clients in a variety of markets, including the aerospace and defense, transportation and medical industries. It has a proven track record of working with nearly 3,000 blue chip corporate customers over the past twelve months, including Amazon, Google, 3M, Tesla, Philips and Pfizer.

Moreover, before becoming a publicly traded company, Fathom achieved a 24% order increase in the third quarter of 2021 compared to the second quarter of the year. This trend is expected to continue, especially in view of strong demand for additive manufacturing services. According to the SEC filing, the company reported revenues of nearly $ 108 million for the first nine months of 2021 in its most recent reported income statement, compared to $ 42 million for the same period in 2020.

Source: www.3dprint.com