Swedish company Sandvik has just announced it has acquired a 30% stake in Beam-IT, an Italy-based provider of metal additive manufacturing services and 3D printed end-use components for a range of industries, including automotive, energy and aerospace.
Sandvik’s investment in the company—which could increase over time per the terms of the agreement—demonstrates the Swedish company’s intention to extend its additive manufacturing business. Since 2013, the company has increased its investments in additive manufacturing technologies significantly, with a particular focus on Powder Bed Fusion and Binder Jetting technologies.
“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.”
As a supplier of metal 3D printed components for a number of industries, Beam-IT holds many quality certifications to meet the needs of its customers, including AS 9100 for aerospace and NADCAP approval. The company, which has over 20 years of AM experience, currently operates over 20 powder bed fusion 3D printers—two of which were recently acquired from SLM Solutions.
“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,” said Kristian Egeberg, President of the Additive Manufacturing division in Sandvik. “With this investment we provide our customers with the opportunity to access the complementary and combined power of Sandvik and Beam-IT.”
Last year, Beam-IT reportedly generated revenues of about $7.5 million (70 million SEK). The company currently employs 38 people. Specific terms of Sandvik’s purchase price were not disclosed.