CORE Industrial Partners (“CORE”), a Chicago-based private equity firm focused on investing in lower middle market manufacturing, industrial technology, and industrial service companies, today announced the completion of the initial listing on the New York Stock Exchange for Fathom Digital Manufacturing Corp. (“Fathom”), an industry leader in on-demand digital manufacturing and 3D printing services, through the completion of a business combination with Altimar Acquisition Corp. II (“Altimar”), a special purpose acquisition company.
As a result of the transaction, the combined company, named Fathom Digital Manufacturing Corp. (“Fathom”), will begin trading on the New York Stock Exchange as of December 27, 2021, under the ticker “FATH” for Fathom’s Class A Common Stock. CORE will remain the largest shareholder in the combined business.
“Fathom’s differentiated platform, focused on innovation, efficiency, and the highest level of customer service, continues to transform the manufacturing industry across North America,” said John May, Founder and Managing Partner of CORE. “As Fathom’s largest shareholder, we look forward to the company continuing to take advantage of the shift to Industry 4.0, becoming the true leader in a fragmented manufacturing marketplace.”
“This transaction allows us to continue to invest in Industry 4.0 technologies to further solidify our market leading position and to better serve our customers through our expanding state-of-the-art capabilities,” said TJ Chung, Fathom’s Chairman of the Board and Senior Partner of CORE. “Fathom’s highly experienced leadership team has successfully leveraged CORE’s knowledge and experience to get us to where we are today, and we’re excited at the prospects of what’s to come.”
“This listing on the NYSE catapults Fathom to the forefront of the fast-growing on-demand digital manufacturing sector,” stated Ryan Martin, CEO of Fathom. “CORE’s expertise has been the accelerator of our success, and we’re thankful to be able to continue to provide our customers with the transformational technologies and high-level customer service they need to be successful while providing the foundation for Fathom to continue our geographic and product expansion.”
Headquartered in Hartland, Wisconsin, Fathom delivers a wide breadth of advanced manufacturing services including 3D printing through a differentiated technology-agnostic strategy focused on speed, problem solving, adaptive technical responsiveness and manufacturing expertise, allowing companies to iterate faster and shorten their product development and production cycles. Fathom also enables customers to both consolidate and localize their supply chains through the digitization of manufacturing. This creates a long runway for growth in the fragmented $25 billion low-to-mid volume manufacturing market. By continuing to leverage its proven business model, Fathom has secured new business wins with large innovative companies, achieving continued market penetration for its manufacturing technologies.
In connection with the closing of the business combination, J.P. Morgan Securities LLC and Stifel served as joint financial advisors and Winston & Strawn LLP served as legal counsel to Fathom. J.P. Morgan Securities LLC and Stifel served as joint placement agents and capital markets advisors, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Altimar. Mayer Brown LLP served as legal counsel to the placement agents.
About CORE Industrial Partners
CORE Industrial Partners is a Chicago-based private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit coreipfund.com.
About Fathom Digital Manufacturing
Fathom is one of the largest on-demand digital manufacturing platforms in North America, serving the comprehensive product development and low- to mid-volume manufacturing needs of the largest and most innovative companies in the world. With more than 25 unique manufacturing processes and a national footprint with nearly 450,000 square feet of manufacturing capacity across 12 facilities, Fathom seamlessly blends in-house capabilities across plastic and metal additive technologies, CNC machining, injection molding & tooling, sheet metal fabrication, and design and engineering. With more than 35 years of industry experience, Fathom is at the forefront of the Industry 4.0 digital manufacturing revolution, serving clients in the technology, defense, aerospace, medical, automotive and IOT sectors. Fathom's certifications include: ITAR Registered, ISO 9001:2015 Design Certified, ISO 9001:2015, ISO 13485:2016, AS9100:2016, and NIST 800-171. To learn more, visit fathommfg.com.
About Altimar Acquisition Corp. II
Altimar was a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Altimar was sponsored by Altimar Sponsor II, LLC, an affiliate of HPS Investment Partners, LLC.
Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Fathom’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to recognize the anticipated benefits of the business combination; changes in general economic conditions, including as a result of the COVID-19 pandemic; the outcome of litigation related to or arising out of the business combination, or any adverse developments therein or delays or costs resulting therefrom; the ability to meet the New York Stock Exchange’s listing standards following the consummation of the business combination; costs related to the business combination; and additional factors discussed in Altimar’s final prospectus/proxy statement filed with the Securities and Exchange Commission (the “SEC”) on December 3, 2021 and the documents of Altimar and Fathom filed, or to be filed, with the SEC. If any of the risks described above materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by our forward-looking statements. There may be additional risks that neither Altimar nor Fathom presently know or that Altimar and Fathom currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Altimar’s and Fathom’s expectations, plans or forecasts of future events and views as of the date of this press release. Although Altimar and Fathom may elect to update these forward-looking statements at some point in the future, Altimar and Fathom specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Altimar’s and Fathom’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.