Large-scale metal additive manufacturing company Titomic has ventured into the European market, buying a cold spray technology company with products complementary to its own 3D printers.
Titomic will pay $2.1 million to acquire Dycomet Europe BV, a company with turnover of $1.6 million and customers including Rolls Royce, Mercedes, Airbus, Siemens and VW.
Dycomet provides low, medium and high pressure cold spray services, while Titomic manufactures 3D printers utilising its proprietary Titomic Kinetic Fusion additive technologies.
Dycomet’s Klass Rozema, who will become general manager of Titomic Europe, said the two companies were a complementary fit in technology and product set.
The purchase gives Titomic a European base to match the strength of its US and Australian operations.
Titomic said: “Several synergies that will be immediately realised between the businesses include additions to Titomic’s comprehensive product portfolio, wider product offers to current customers, use of complementary machinery sets from both sides, Titomic’s ability to service and maintain additional machinery in Europe and providing technical and sales functions for the company in the region.”
In addition to cash, the vendors will receive 1.5 million shares in Titomic in three tranches.
Picture: Dycomet Europe BV
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