A private investment fund, Daedalus Investments LLC, recently purchased an additive manufacturing business and supplier of investment casting patterns, and is positioning that operation as a complement to another of its holdings, investment caster Tech Cast Ltd. Tech Cast, in Myerstown, PA, produces stainless steel investment castings in a range of sizes for oil-and-gas production, military and defense applications, and industrial pump products.
ClassIQmfg, Tulsa, OK, is being reestablished as Areion3D, in Lebanon, PA, where it will manufacture stereolithography (SLA) 3D printed patterns for investment castings.
The value of the July 2023 transaction was not announced.
"As Tech Cast continues to push for lower lead times and reduced tooling costs, AM has become more paramount. This acquisition complements Tech Cast's abilities to make this push and to develop novel technologies to improve quality, delivery, and cost to our customers," stated Tech Cast CEO Steve Olson.
All the assets and key personnel have been relocated, and Areion3D has added two 3D Systems’ ProX 800 SLA systems to its manufacturing capabilities.
As ClassIQmfg, the business has offered SLA as well as other additive manufacturing capabilities (selective laser sintering, SLS; fused-deposition modeling, FDM), as well as 3D scanning, reverse engineering, and CAD modeling
"Tech Cast has been one of our best customers over the years,” detailed CFO and owner Joan Speed. “We have always admired their innovation and adaptation of AM to provide low-volume, quick-turn investment castings to their customers. This acquisition makes sense, and we are very excited about future opportunities for both Areion3D and Tech Cast Limited."