Parent Company of Tech Cast Limited, Acquires ClassIQ
In July, Daedalus Investments LLC, parent company of Tech Cast Limited, announced it has purchased Oklahoma-based ClassIQ Manufacturing. ClassIQ provides additive manufacturing (AM) services in several markets, one of which is the investment casting industry.
“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.” said Steve Olson, Tech Cast CEO.
With over 35 years in additive manufacturing, ClassIQ has a solid reputation within the AM industry and has quickly become the leading provider for several AM services including SLA Quickcast Investment Casting Patterns.
“Tech Cast has been one of our best customers over the years. 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.” said Joan Speed, CFO and owner of ClassIQmfg.
ClassIQ will relocate all assets and key personnel to the new location in Lebanon, Pennsylvania. Areion3D has added two new ProX 800 SLA system to their fleet of five large-frame platforms and is currently taking SLA Quickcast orders.