Dan Martin, President of Summit, commented: “Since my wife, Michelle, and I founded Summit 25 years ago, we’ve been committed to providing outstanding quality and customer service to build the business into a leader in the design, engineering, and construction of molds and molded components. We’ve now reached an inflection point in our growth trajectory, and we believe Fathom is the perfect fit in terms of both culture and customer-value proposition to help take Summit to the next level.”

“Summit’s leading customer base includes some of the largest and most recognizable players in the medical and packaging spaces,” said Matthew Puglisi, Partner of Core. “This acquisition significantly enhances Fathom’s domestic injection molding and tooling capabilities, and we’ll continue to actively pursue acquisitions, similar to Summit, that simultaneously broaden our customer base, enhance our service offering, and deepen our presence in attractive, recession-resistant end markets.”

Core Industrial Partners’ portfolio company Fathom acquired the precision tooling and injection molding supplier serving customers in the packaging and medical markets.

“Our commitment to offering responsible products that support AM production is growing to include our metal materials,” said Sophia Heyl, Product Specialist, Metal Materials at EOS. “We are striving to create carbon footprint transparency for our premium metal materials. These externally verified numbers are also providing transparency to our customers by including these materials in our Carbon Calculator, furthering sustainability initiatives for both our customers and for EOS.”

EOS has also partnered with Agiplast, an Arkema company, to offer its new VIRTUCYCLE program which takes used polymer material and components, using 100% sustainably sourced energy to transform AM powder into recycled high-performance injection moulding granules. To verify the positive impact of this circular economy program, EOS has performed a life cycle analysis, externally verified by TÜV Süd, confirming 1kg of polymer material turned into 0.945 kg granules, saveing approximately 7kg CO2e in comparison to raw material.

Chicago-based private-equity firm Core Industrial Partners announced today the acquisition of Summit Tooling Inc. and Summit Plastics Inc. by its portfolio company Fathom. The precision tooling and injection molding supplier is the fourth add-on acquisition to the Fathom platform since Core made its initial investment in 2018.

“Summit’s focus on customers during the design, prototyping, and low-volume production stages of a product’s life cycle perfectly aligns with Fathom’s unique customer-value proposition,” Fathom CEO Ryan Martin said in a prepared statement. “We’re excited to work with the Summit team to explore opportunities to even better serve its customers through Fathom’s comprehensive digital manufacturing platform while also providing Fathom’s existing customer base expanded domestic quick-turn precision tooling and molding capabilities,” added Martin.

These latest developments supplement existing EOS efforts to reduce CO2e emissions throughout its supply chain, such as the PA 1101 ClimateNeutral and PA 2200 CarbonReduced materials, and the company's Carbon Calculator, which considers AM project carbon emissions with key cost metrics to provide an estimation of the organization’s AM CO2e and expenses.

Since Aluminium AlSi10Mg is one of its most popular products, EOS has placed some of its focus on this material. According to the company, the Aluminium AlSi10Mg now incorporates a minimum of 30% recycled feedstock, achieving a 25% CO2e reduction compared to the prior formulation. This reduction in CO2e has been managed without compromising the Aluminium AlSi10Mg's properties, characteristics, and performance in additively manufactured parts, helping to ensure existing users do not need to requalify applications. The material has the same chemical composition standard, and still boasts its ultimate tensile strength of 460 MPa, tield strength of 245 MPa, and elongation at break of 5%. It also still showcases good thermal and electrical conductivity.

Monroe Capital LLC provided financing for the acquisition. Winston & Strawn LLP provided legal representation to Core and Fathom in the transaction.

“I am delighted that we are continuing our way towards Responsible Manufacturing and expanding our portfolio of Responsible Products stepwise,” added Björn Hannappel, head of sustainability at EOS. “By minimising waste, reducing the environmental footprint and prioritising eco-friendly materials, organisations can both protect our planet and create a more efficient and resilient business model.”

EOS has announced the addition of its EOS Aluminium AlSi10Mg to its 'Responsible Products' portfolio alongside the launch of VIRTUCYCLE – its global used polymer material take-back program to reduce material waste.

Founded in 1996, Summit provides plastic injection mold design, precision mold making, and close-tolerance injection molding with a specialty in small to medium prototype injection molds. Summit primarily serves long-tenured customers in the medical and packaging end markets with its fleet of more than 30 machines, said Core's announcement.

In-house metalworking capabilities include engineering design, sheet metal shearing, punching and bending, roll forming, hardware integration, welding, grinding, polishing, painting, and assembly. Summit’s thermoplastics engineering expertise allows the company to process multi-shot and bi-injected tooling and perform insert overmolding. Pad printing, hot stamping, ultrasonic welding, and assembly are also offered by the company, which operates a 26,000-square-foot facility northwest of Chicago in McHenry, IL.

As one of the largest AM original equipment manufacturers (OEMs) in the world, EOS is working to ensure it minimises the climate impact of its additive manufacturing products.