SyBridge Technologies To Acquire Assets of Fast Radius

Sybridge Technologies, a global enterprise which builds up and integrates smaller tooling and injection molding companies, has recently announced that its wholly owned subsidiary, SyBridge Digital Solutions LLC, has acquired certain assets of Fast Radius Inc. The acquisition is the fourteenth of Sybridge since its establishment in 2019, and represents a sale process under Section 363 of the U.S. Bankruptcy code. The deal of approximately $15.9 million is expected to be ratified by the end of 2022. 

Fast Radius was founded in 2017, headquartered in Chicago with offices in Atlanta, Louisville, and Singapore, and microfactories in Chicago and at the UPS Worldport facility in Louisville, KY. Meanwhile, Sybridge Technologies was established in 2019 by New-York based Crestview Partners, a private equity firm. The firm invests in promising projects in partnership with industry entrepreneurs, and put 200 million USD towards SyBridge Technologies. This funding was used to develop the status of the latter as a provider of  value added  manufacturing solutions.

Fast Radius is a service provider for 3D printing, including the production of metal parts (Photo credit: Fast Radius)

Fast Radius offers software applications and streamlined manufacturing solutions with its Fast Radius Cloud Manufacturing Platform™, as well as being a service provider for 3D printing (DLS, HP MJF, Stratasys FDM, SLA) and CNC machining, injection molding and urethane casting. It initially went public with a total value of $1.4 billion. SyBridge Technologies does not directly work in additive manufacturing; its role is to build up and integrate tooling and injection molding companies (which can and does of course include 3D printing services such as Fast Radius).

This acquisition allows Fast Radius to continue operations still under its current name and allows retention of the majority of staff. However, according to the company LinkedIn insights, the headcount growth has declined by 24% in the past six months. This indicates stagnation, or at the very least caution on the part of Fast Radius. Once the deal has closed at the end of this year, it is likely that operations will rekindle.

Fast Radius’ Cloud Manufacturing Platform offers integrated design, production, and fulfilment (Photo credit: Fast Radius)

Patrick McCusker, currently President & Interim CFO of Fast Radius, commented, “We are very pleased to see Fast Radius become a part of SyBridge Technologies. Our parts and software capabilities align incredibly well with SyBridge’s global manufacturing footprint and prototyping capabilities.” Indeed, integration is often a method to expand global reach and capacity in some manner, such as the recent acquisition of ParaMatters by Carbon. To find out more about this acquisition, you can find out more on Fast Radius’ website HERE and SyBridge HERE.

What do you think of the acquisition of Fast Radius? What could it mean for the 3D printing industry? Let us know in a comment below or on our LinkedIn, Facebook, and  Twitter pages! Don’t forget to sign up for our free weekly Newsletter here, the latest 3D printing news straight to your inbox! You can also find all our videos on our YouTube channel.

*Cover photo credits: SyBridge Technologies