Swedish engineering tools group Sandvik has announced the acquisition of a 30% stake in additive manufacturer BeamIT.
BeamIT specialises in metal components for industries such as automotive, energy and aerospace. With over 20 Powder Bed Fusion printers, the company produces parts through DMLS, EBM and SLS techniques.
Kristian Egeberg, President of the Additive Manufacturing division in Sandvik said: “The AM sector is developing fast and there is a need for AM-specialist-partners with the advanced skills and resources required to help industrial customers develop and launch their AM programs. With this investment we provide our customers with the opportunity to access the complementary and combined power of Sandvik and Beam IT.”
In its 12 July press release, Sandvik said that Beam IT had revenues of around $7.5mn with 38 employees. The purchase price was not disclosed, though Sandvik can increase its stake over time.
“The investment in Beam IT will complement our existing offer in Additive Manufacturing,” said Lars Bergström, President of Sandvik Machining Solutions. “It is also in line with Sandvik’s strategic ambition to become a leading solution provider for the wider component manufacturing industry.”