Hartland-based
Fathom Digital Manufacturing announced Monday the completion of a
previously announced business combination with special purpose acquisition company
Altimar Acquisition Corp. II.
As of Monday, Fathom, a digital manufacturing services company, is publicly traded on the New York Stock Exchange under the ticker “FATH.” The business combination, which was approved by a vote of Altimar’s shareholders, closed on Dec. 23.
“We are taking this step because we are a strong, profitable company, and believe our NYSE listing will accelerate Fathom’s growth, both organically and inorganically, by using our stock as a currency to advance our M&A strategy and investing in promising new technologies across the industry,” said
Ryan Martin, chief executive officer at Fathom. “These new technologies will enable us to serve our target markets with greater efficiency and responsiveness than ever before. Our broad capabilities from rapid prototyping to low- to mid-volume production, proprietary software suite, engineering expertise and comprehensive support system are competitive advantages we expect will enable us to continue executing our strategic plan and delivering strong profitable growth.”
Altimar Acquisition Corp. II, which is already publicly traded and was sponsored by New York-based
HPS Investment Partners, acquired Fathom in a deal that paid $318 million in cash to existing Fathom shareholders and paid down $22 million in debt. The transaction values the combined firm at nearly $1.5 billion.
Prior to the business combination, Fathom was a privately held portfolio company of CORE Industrial Partners, a Chicago-based private equity firm. CORE will remain the largest shareholder in the combined business.
Fathom will continue to be led by Martin, chief financial officer Mark Frost, chief commercial officer Rich Stump and chairman of the board T.J. Chung. The company has 668 employees across the U.S.
“Fathom offers an exciting new paradigm -- fast, technologically sophisticated, flexible, and geared for rapid growth,” said Chung. “This is an opportunity for us to increase our product offerings to better serve our clients and power their accelerating pace of new product development and manufacturing innovation while expanding both our geographic and strategic reach.”
