Pittsburgh - RTI International Metals Inc.
has acquired Directed Manufacturing Inc.
, a leader in additive manufacturing of metals and plastics for both commercial production and engineering development applications, for $23 million in cash. The transaction is expected to enhance RTI's ability to deliver advanced, cost-effective titanium and other advanced material solutions to customers in aerospace and other markets.
Based in Austin, Texas, Directed Manufacturing, which will do business as RTI Directed Manufacturing Inc., becomes the flagship organization in RTI's Advanced Additive product line. It produces complex products using titanium, nickel-chromium alloys, and other specialty metals and composite plastics. The specific additive manufacturing or 3D printing technologies used by the company include direct metal laser sintering and plastic laser sintering systems.
Directed Manufacturing currently manufactures products that include aerospace airfoils, rakes, guide vanes and injection nozzles, complex fasteners, surgical tools, medical implants, injection mold inserts and many others. It is one of the few companies in the fast-growing additive manufacturing field with commercial production experience in both metals and plastics. The company's customers include a number of major aerospace industry prime contractors and suppliers.
"We are very excited to welcome Directed Manufacturing to RTI. We believe its technology, track record of profitable commercial production, proven quality, performance and base of established customers immediately puts RTI at the forefront of additive manufacturing and 3D printing -- the technology that is rapidly expanding its influence on global manufacturing," said Dawne S. Hickton, vice chair, president and CEO of RTI.
"The growth potential for additive manufacturing solutions in RTI's and Directed Manufacturing's markets is truly exceptional. We look forward to maximizing the commercial opportunities that the new capabilities of our latest acquisition will generate, particularly on the most advanced new commercial aircraft and engine platforms, as well as medical device applications," Hickton added. "We are also anxious to pursue opportunities with businesses in other market segments that are seeking the cost effectiveness of near-net-shape production that Directed Manufacturing's 3D Printing capability delivers."
"We are delighted to combine our company with RTI. Its existing capabilities, financial strength, strong market presence, and global footprint make it the perfect partner for Directed Manufacturing to continue and accelerate our progress as we move forward together," said Alex Fima, founder of Directed Manufacturing.
The acquisition builds on more than two years of RTI research, development, and other participation in the field of additive manufacturing as part of its strategic plan. These activities include collaboration with a major commercial aerospace OEM on prototype powder metal parts for advanced design aircraft. RTI is also a founding sponsor of the National Additive Manufacturing Innovation Institute (NAMII) – recently rebranded "America Makes" – a joint effort of the federal government and industry based in Youngstown, Ohio.
Directed Manufacturing was advised by FBR & Co., a middle market investment banking firm.
Source: RTI International Metals Inc.