Fathom receives non-binding acquisition proposal from CORE Industrial Partners
November 28, 2023
Fathom Digital Manufacturing Corp, a provider of on-demand digital manufacturing services, has announced that it has received a non-binding proposal from CORE Industrial Partners, LLC to acquire all of the company’s outstanding shares that they do not already own.
The non-binding proposal states that, as of November 22, 2023, the CORE Funds collectively owned shares of Class A Common Stock and Class B Common Stock representing approximately 63% of the company’s outstanding voting power.
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The board of directors of the Fathom previously formed a special committee of independent directors (the Special Committee) to evaluate and consider any potential or actual transaction proposal from the CORE Funds and any other alternative proposals or other strategic alternatives that may be available to the company.
The Special Committee is reviewing the proposal from the CORE Funds, but has not made any decisions with respect to its response to the proposal and has not set a definitive timetable for the completion of its evaluation of the proposal. It was stated that there can be no assurance that any definitive agreement will result from the proposal submitted by the CORE Funds or that any transaction will be consummated.
With more than 35 years of industry experience, Fathom is one of the largest on-demand digital manufacturing platforms in North America. The company serves the comprehensive product development and low- to mid-volume manufacturing needs of some of the largest and most innovative companies in the world. With more than twenty-five quick turn manufacturing processes combined with an extensive national footprint, Fathom blends in-house capabilities across plastic and metal additive technologies, CNC machining, injection moulding and tooling, sheet metal fabrication, design and engineering, and more.
