(BRK.A), (BRK.B)
Berkshire Hathaway’s The Lubrizol Corporation has acquired Avid Product Development, LLC, a trusted partner for engineering and additive manufacturing services.
No price for the acquisition was revealed.
According to Lubrizol, Avid offers a unique blend of 3D printing capabilities, including design for additive manufacturing (DfAM), prototyping and production using powder bed fusion (MJF, SLS), fused filament fabrication (FFF) and stereolithography (SLA), with expertise in various post-processing technologies.
The company note that the 3D printing industry continues to rapidly grow, creating an immense opportunity for companies leveraging 3D printing services as part of their portfolios. Today, OEMs (original equipment manufacturers) interested in 3D printing are seeking partners who can assist in their efforts to integrate this new technology into their processes. Lubrizol’s materials, application and testing expertise coupled with Avid’s 3D printing design, prototyping and post-processing know-how will enable development of differentiated solutions for customers and accelerate adoption of 3D printing in key industries.
“Lubrizol continues to invest in opportunities that bring new differentiated solutions to our customers,” says Gert-Jan Nijhuis, General Manager, 3D Printing Solutions, Lubrizol Engineered Materials. “The acquisition of Avid Product Development greatly enhances our ability as a 3D printing solution provider, offering complete product solutions from material development to printing and post processing services, delivering end-use products for our key markets.”
“As a result of this acquisition, we will have vast opportunities to demonstrate our capabilities in engineering, design and manufacturing with the support of an industry leader in materials development, applications and testing” added Doug Collins, founder of Avid Product Development.
Avid is headquartered in Loveland, Colorado and serves customers in the footwear, consumer goods, industrial and medical markets. Avid won the 2019 Colorado Company to Watch award, and continues to create innovative solutions, including designing and 3D printing of critical personal protection equipment (PPE) to meet the urgent needs of healthcare workers and essential businesses during the COVID-19 pandemic.
© 2020 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.