Prototek acquires Midwest additive manufacturing services provider
The merger creates a single destination for increasingly complex prototyping
Contoocook-based Prototek, a provider of rapid prototyping and low volume production services for precision machined and sheet metal fabricated parts, has acquired Midwest Protyping, one of the nation’s largest independent additive manufacturing services businesses and a leader in digital (3D) manufacturing.
The companies will create a single destination for increasingly complex prototyping and low-volume manufacturing needs of customers, providing a full suite of sheet metal, CNC, and additive manufacturing capabilities with a fleet of more than 140 machines.
In addition, the merger will allow both firms to serve a more geographically diverse customer base with locations near technology hubs in the Northeast, Silicon Valley and the Midwest.
The company will continue to operate in all current Prototek and Midwest Prototyping locations, with a total of 237 employees.
William Gress will continue in his role as CEO of Prototek. Steve Grundahl, president and founder of Midwest Prototyping, will serve as vice president of Additive Manufacturing. Grundahl will be responsible for leading the company’s digital manufacturing growth strategy with Midwest Prototyping as the foundation of an aggressive growth plan.
“The Midwest Prototyping team will be a terrific complement to our core capabilities and will support our continued growth,” said William Gress, CEO of Prototek. “We can now meet all of the prototyping and low volume production needs for our customers through a broad range of cutting-edge manufacturing capabilities and increased size, scale and efficiency, with the same high quality they’ve come to expect.”
The acquisition comes on the heels of a number of merger and acquisition deals in the fast-growing 3D printing and manufacturing space. Prototek itself was acquired recently by TruArc Partners, an investment firm, to support the company’s growth prospects and expansion into digital and on-demand manufacturing. The M&A trend is expected to continue as additive manufacturing continues to take hold, according to the company’s press release