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Florida-based AM service supplier ADDMAN Engineering has acquired Castheon Inc., a number one supplier of additive manufacturing applied sciences for mission-critical house purposes. By means of the monetary assist and backing of AIP, Castheon is ADDMAN’s third acquisition in 10 months.
Based in 2016 by Dr. Youping Gao, Castheon is an modern developer of additive manufacturing processes and a number one metals additive producer for demanding finish markets. The Firm has deep experience in metals printing and has developed processes that promise to meaningfully develop using historically tough to fabricate refractory metals. Castheon companions with next-generation spacecraft firms to design, develop, and print advanced parts with fast turnaround instances.
“This funding affirms ADDMAN’s strategic proposition in house. We imagine that the applied sciences created by Dr. Gao will revolutionize the additive manufacturing trade and remodel pondering round part improvement for the tip markets that Castheon serves. Dr. Gao’s accomplishments symbolize the cutting-edge of additive manufacturing, particularly in refractory metals purposes and options for the house trade,” mentioned Joe Calmese, ADDMAN CEO.
Based in 2020, ADDMAN Engineering, LLC is a vertically built-in supplier whose capabilities span the design, manufacture, machining, post-processing, and high quality processes wanted to take any half from idea to manufacturing. As ADDMAN acquires Castheon, the corporate’s experience now ranges from house purposes to IndyCar racing groups, medical system producers to robotic integrators, offering prospects with value-driven engineered options utilizing additive manufacturing applied sciences.
Dr. Gao added, “Castheon has made main breakthroughs in know-how to print refractory metals, together with demonstrated success in tough purposes akin to response management system (“RCS”) thrusters for spacecraft prospects. Castheon’s know-how and know-how, mixed with ADDMAN’s scale and assets, will supercharge the following chapter of Castheon’s progress. ADDMAN brings a nationwide manufacturing and engineering footprint with over 300 staff, dozens of additive manufacturing machines and key high quality certifications, and over 100 conventional subtractive machines to Castheon’s buyer base.”
ADDMAN is backed by American Industrial Companions, an operationally oriented non-public fairness agency that makes investments in industrial companies serving home and international markets. Up to now, American Industrial Companions has accomplished greater than 100 transactions and at present has $8 billion of belongings beneath administration on behalf of main pension, endowment, and monetary establishments.
Kevin Wilken, Associate at AIP, additional commented, “The power to effectively produce sure refractory metals by way of additive manufacturing is a breakthrough for patrons who rely upon high-temperature structural parts. Castheon’s choices, which embody options to print Niobium and different refractory metals, have the potential to remodel the best way additive serves superior industries. AIP is absolutely dedicated to supporting the continued progress of the mixed firm.” Mr. Wilken added, “We welcome Dr. Gao to the ADDMAN staff and stay up for delivering modern options that allow our prospects’ success.”
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