M&A advisory for 3D printing companies
Additive M&A has changed shape since the SPAC-era cycle. The hardware platforms that listed at multiples their operating performance did not support have largely been repriced or absorbed, and the active buyer set today looks different: industrial holdcos consolidating around qualified hardware, the materials and chemicals majors building powder and resin portfolios, aerospace and medical primes acquiring qualified production capacity, and PE roll-ups in service bureaus. Almost nothing in current deal flow rewards hardware-only stories.
The strategic buyer set is concentrated and well-known: Stratasys, 3D Systems, HP, Markforged, Desktop Metal and Nikon SLM on the hardware side, with the chemicals and materials majors active on powder and resin assets, and aerospace and medical primes acquiring qualified production capacity. PE platforms have been steady consolidators of polymer bureaus and metal AM service operators. Flow has direct access to corporate development at the named strategics and to the active sponsor platforms.
Flow team has relevant sector experience and has worked with 3D printing companies across industrial hardware, polymer and metal materials, software and workflow platforms, and aerospace and medical service bureaus.
"3D printing" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing 3D printing M&A targets
Units shipped
Installed base
Materials revenue
Materials attach per machine
Machine utilisation
Hardware gross margin
Materials gross margin
Service & parts revenue
Software ARR
Warranty reserve %
Backlog
3D printing valuations in May 2026
Public 3D printing comps trade at 2.3x EV/Revenue. Median revenue multiple across 3D printing M&A deals was 0.4x in the last 12 months.
2.3x
Median EV/Revenue as of May 2026 for public 3D printing companies
7.1x
Autodesk is the highest valued public 3D printing company based on EV/Revenue (excluding outliers)
0.4x
Median EV/Revenue across 3D printing M&A deals in the last 12 months
11x
Median EV/Revenue across 3D printing VC rounds in the last 12 months
Key recent 3D printing M&A deals
$168M acquisition of Monogram Orthopedics by Zimmer Biomet was the largest 3D printing M&A transaction completed in the last year.
See all 3D printing M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Jul-25 | Monogram Orthopedics |  | Monogram Orthopedics is a Salt Lake City-based medical device company developing personalized knee implants using 3D printing and robotic surgery systems. Its platform integrates patient-specific imaging with automated design algorithms to produce custom load-bearing joint replacements. Launched in 2015, the technology aims to improve fit, reduce recovery time, and minimize wear in total knee arthroplasty procedures. Monogram holds patents for its digital workflow connecting preoperative planning to intraoperative robotics. | Zimmer Biomet | $168M | - | |
Oct-25 | Voxeljet |  | Voxeljet is a Friedberg-headquartered manufacturer of large-format 3D printers for industrial additive manufacturing. The company produces binder jetting systems like the VX1000 and VX4000 series, which create sand molds for metal casting in automotive and aerospace sectors. Listed on NASDAQ, voxeljet serves clients including Ford and BMW from facilities in Germany and the United States. Founded in 1999, it leads in high-volume production printing. | ExOne | $22M | 0.6x | |
Apr-26 | N | Nano Dimension (AME unit) |  | Nano Dimension (AME unit) is a multi-material additive manufacturing platform from Israeli 3D printing firm Nano Dimension Ltd. (NASDAQ: NNDM). High-precision inkjet printing produces functional electronics like multi-layer PCBs for aerospace and defense. Printers, inks, and services drive revenue. | Inspira Technologies | $13M | 0.1x |
May-26 | Blueacre Technologoy |  | Blueacre Technology is a developer and manufacturer of laser micromachining systems for processing polymers, metals, ceramics, and glass in the medical device sector. Based in Galway, Ireland, the company produces the SmartXide3 tetranode laser workstations and custom OEM solutions for stent cutting, catheter hole drilling, and implant texturing. Founded in 2006, Blueacre integrates vision systems, automation, and software for sub-micron accuracy. Clients include Medtronic and Boston Scientific for cardiovascular and orthopedic applications. | AP Technologies | - | - | |
May-26 | SKA |  | SKA is a software development company. SKA provides IT training, 3D printing, project management, and mechanical and electrical design services. | GoEngineer | - | - | |
Feb-26 | Thingiverse | | Thingiverse is a Brooklyn-based online platform hosting a vast repository of user-generated 3D printable designs, enabling makers worldwide to discover, download, customize, and share digital models for 3D printing. | MyMiniFactory | - | - | |
Feb-26 | Prism Engineering | | Prism Engineering is a value-added reseller of CAD, CAM software, and 3D printers serving manufacturing firms in the Mid-Atlantic United States. Hunt Valley, Maryland-based, it bundles products from Autodesk, SolidWorks, and Stratasys with training, implementation, and support services. | Pape-Dawson Engineers | - | - | |
Jan-26 | C | Coherent (tools for materials processing unit) | | Coherent Tools for Materials Processing is a division of Coherent Corp. that supplies precision laser systems for micromachining, marking, engraving, and additive manufacturing applications across industries like electronics and medical devices. | Bystronic | - | - |
Jan-26 | PlusORTHO Prothetik |  | PlusORTHO Prothetik is a Swiss specialist distributing 3D-printed knee and ankle prostheses alongside powered surgical instruments. | Healthcare Holding | - | - | |
Jan-26 | Verot |  | VEROT manufactures precision metal components via cutting, fabrication, and 3D printing for industrial applications. | PHI Industrial | - | - | |
Jan-26 | HeroForge | | HeroForge is a US-based online platform that allows users to design, customize, and order 3D-printed tabletop miniatures for role-playing games and board games. The service features a browser-based character creator with thousands of customization options for body types, poses, equipment, and accessories. Miniatures can be ordered in various materials including premium plastic, color-printed plastic, and metal. | Pkf Attest | - | - | |
Jan-26 | FORECAST 3D | | FORECAST 3D delivers industrial 3D printing, additive manufacturing, and prototyping services using technologies like MJF, SLA, PolyJet, FDM, DMLS, CNC machining, and urethane casting. | ADDMAN Engineering | - | - | |
Dec-25 | Ready Player Me |  | Ready Player Me is a cross-platform avatar creation service for games and virtual worlds. The platform generates photorealistic 3D avatars from selfies, compatible with Unity, Unreal Engine, and other tools. Used by developers for Fortnite, VRChat, and Spatial, it supports facial animations and clothing customization. Headquartered in Tallinn, Estonia, Ready Player Me operates via readyplayer.me. | Netflix | - | - | |
Nov-25 | W2P Engineering |  | W2P Engineering is an Austrian specialist in high-precision 3D printers tailored for professional and industrial use. | Redon Technology | - | - | |
Nov-25 | Thrustworks | | Thrustworks is a UK-based additive manufacturing company that develops proprietary metal 3D printing technology for producing lightweight, intricate components used in aerospace engines and energy turbines. The firm employs Directed Energy Deposition processes to create high-strength parts from alloys like titanium and nickel superalloys. Headquartered in Birmingham, Thrustworks serves major clients in the aviation sector including engine manufacturers and has expanded into renewable energy applications such as wind turbine gearboxes. Founded in 2018, the company operates a dedicated production facility equipped with multi-laser systems capable of building parts up to one meter in size. Thrustworks holds several patents on its wire-fed laser deposition methods, enabling rapid prototyping and low-waste production for harsh-environment components. | The Exploration Company | - | - |
Most active buyers of 3D printing companies
Nano Dimension, Peak Technology Enterprises and Hexagon are the most active acquirers of 3D printing companies in the last three years.
See all 3D printing acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
Nano Dimension | | Nano Dimension Ltd provide industrial manufacturing solutions for design-to-manufacturing of electronics and mechanical parts. These solutions are based on a combination of hardware, software, and materials science technologies. The solutions include industrial machinery, such as those for additive manufacturing, surface-mount technology, industrial inkjet printing, along with software for design, simulation, and manufacturing management, as well as materials or consumables that are used by the machinery. These solutions are used by industrial customers in aerospace & defense, automotive, electronics, medical, research and academia, along with government organizations. | MarkforgedDesktop MetalAdditive Flow | 3 | |
Peak Technology Enterprises | | Peak Technology Enterprises is a precision fabrication company producing plastic and metal components via CNC machining, routing, forming, bending, polishing, welding, assembly, and testing. Located in Santa Fe Springs, California, the firm supplies custom parts to industries including aerospace, medical devices, and electronics. It emphasizes defect-free deliverables and on-time shipments through value-added engineering support and quality control processes. | JinxBot 3D PrintingType A Machines | 2 | |
Hexagon |  | Hexagon is the global leader in digital reality solutions, combining hardware such as sensors and measuring devices, software, and services. Customers are mainly in heavy industry such as oil and gas, mining, construction, manufacturing, chemicals, and agriculture. Major products include measuring technology, mapping tools, and software. Around 40% of revenue is generated in the Americas, 35% in Europe, the Middle East, and Africa, and the rest in Asia. | 3D Systems (geomagic software packages unit)CADS AdditiveWaygate Technologies+2 | 2 | |
Vangest |  | Vangest is a Porto-based engineering group specializing in rapid prototyping, injection molding, precision machining, checking fixtures, and design services for industrial applications. Established in 1995, the company operates multiple facilities in northern Portugal, serving sectors such as automotive, aeronautics, medical devices, and consumer goods. Vangest provides end-to-end solutions from concept development to low-volume production, leveraging advanced technologies like 3D printing and CNC machining to deliver high-precision components. Its European client base includes major OEMs seeking agile manufacturing partners for complex assemblies. | OptimoldMicro Systems | 1 | |
Bystronic | | Bystronic AG, formerly Conzzeta AG is a Switzerland-based company that operates in the area of sheet metal processing. The company focuses on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent connectivity of its laser cutting systems and press brakes with automation, software, and service solutions is the key to comprehensive digitalization in the sheet metal industry. The company has four regional segments at Bystronic: EMEA, Americas, China and APAC. | Coherent (tools for materials processing unit) | 1 | |
The Exploration Company | | The Exploration Company is a Paris-headquartered aerospace firm developing the Nyx reusable spaceship for cargo transport to Earth-orbit space stations and lunar gateways. Nyx features in-orbit refueling, green propellant propulsion, and a payload capacity of 3.5 tons in a pressurized 15-cubic-meter volume. The company offers Mission Control software as an open-source operating system for spacecraft avionics. Founded in 2021, it has secured contracts with the European Space Agency and raised 45 million euros in Series A funding for prototype development. | Thrustworks | 1 | |
Zimmer Biomet | | Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two-thirds of total revenue is derived from sales of large joints; another fourth comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022. | Monogram OrthopedicsMonogram TechnologiesParagon 28+1 | 1 | |
Nickolas Asset Management | | Nickolas Asset Management is an investment firm acquiring industrial and manufacturing businesses for expansion via bolt-on acquisitions, centralized back-office operations, and technology-enhanced product lines. Boston-based, it targets lower middle-market companies in North America with engineering-focused value creation. | Medal TechnologiesRanch Road CargoAssociated Plastics | 1 | |
Symetri | | Symetri is a Northern Europe-based reseller of 3D modeling, simulation, PLM, and BIM solutions, serving over 100,000 users with more than 400 employees. Owned by Addnode Group, the company guides clients in leveraging Lean principles for cost reduction, material efficiency, shorter lead times, and enhanced creativity in product development and property management. | AutodeskSolidcadBluebeam Software+1 | 1 | |
Inspira Technologies | | Inspira Technologies Oxy BHN Ltd is a specialty medical device company engaged in the research, development, manufacture, and marketing of proprietary respiratory support technology that is intended to provide an alternative to invasive mechanical ventilation (MV), which is the standard of care today for the treatment of respiratory failure. The respiratory care devices market is segmented geographically into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. | Nano Dimension (AME unit) | 1 |
Founders and investors we've worked with
We've supported winning builders across 3D printing and beyond.
Boryszew
We provided buy-side advice to Boryszew, a Warsaw-listed diversified industrial group across automotive, metals and chemicals, on industrial software market mapping and target screening for its buy-and-build strategy.
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Element
We provided buy-side commercial due diligence to Element Materials Technology, a London-headquartered global TIC services provider, on a series of potential add-on acquisitions in the testing, inspection and certification space.
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MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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Rebellion Pay
We acted as exclusive sell-side advisor to Rebellion Pay, Spain's leading Gen Z neobanking platform, on its sale to Turkish consumer fintech unicorn Papara.
See moreRecent M&A advisory track record
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