In a move designed to beef up its 3D printing and prototyping abilities, an industrial technology entity in Southfield, backed by private equity, has swooped in its third acquisition so far this year. SyBridge Technologies has confirmed its acquisition of Canada-based Advantage Engineering Inc, which provides additive manufacturing and swift prototyping solutions. The Canadian entity primarily functions from Windsor in Ontario.
The Canadian company is almost 25 years old and SyBridge is eyeing opportunities for superior customer engagement while developing products as per its President, Technology and Services Business Unit, Andy Aiton. The statement also talked about tapping in-house technologies and abilities for generating quotes online within a few minutes and churning out prototype components in a few days. With bridge-tooling abilities, the gap between high and low production volumes can come down exponentially for all customers as well. SyBridge is thus looking at becoming the leading supplier for clients in the rapidly growing EV market along with other sectors like consumer goods and life sciences.
SyBridge Technologies has previously acquired industrial companies in Windsor, Ontario and the Grand Rapids earlier this year. It was established by Crestview Advisors LLC in 2019, a private equity firm based in New York which committed equity of $200 million for the same. The company has various facilities throughout Canada, the U.S. and Mexico along with Asia. Southfield is where the company has its headquarters.