Hartland-based digital manufacturing company Fathom Manufacturing announced that it has acquired Summit Tooling and Summit Plastics, Inc.
The acquisition allows Fathom to be well-positioned if medical device companies continue to re-shore segments of their business, said Ryan Martin, Fathom chief executive officer.
Based in McHenry, Illinois, Summit provides plastic and injection mold design, precision mold-making and close-tolerance injection molding. The company specializes in small-to-medium prototype injection molds and primarily serves customers in the medical and packaging end markets.
With Summit in the fold, Fathom can expand its offerings in the domestic injection mold tool and part making space, which the company previously outsourced, Martin said. The acquisition also allows Fathom to bring more of those jobs in-house while expanding its service offerings to Summit’s customer base, he added.
“A lot of the traditional medical device companies had outsourced a lot of their development or production overseas and we see a trend for more and more of that to be done domestically,” Martin said. “If that trend accelerates, we’re going to be well-positioned to be able to serve our customers.”
Summit and its 30 employees will continue to operate in Illinois from the company’s 26,000 square-foot facility. Summit president Dan Martin, who is unrelated to Ryan Martin, will continue to run the company’s day-to-day operations.
“We’re excited about Summit’s world-class customer base, which has a lot of customers in the medical and packaging end markets,” Ryan Martin said. “We think they are complimentary and that we’ll be able to cross sell some of our additional 3D printing, CNC machining and urethane casting capabilities to their customers as well as having this capability for our existing customer base.”
Fathom Manufacturing is owned by Chicago-based private equity firm CORE Industrial Partners and is comprised of four legacy companies – FATHOM, Midwest Composite Technologies, ICOMold and GPI Prototype. The company has more than 200 employees nationally.
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