An industry leader in on-demand manufacturing, Xometry connects enterprise buyers across industries such as aerospace, consumer products, defense, industrial, automotive, medical, energy, robotics, green-tech and more with sellers of custom-manufactured parts worldwide. At the end of Q3 2021, Xometry had 26,187 active buyers, including nearly 30% of the Fortune 500. Leveraging AI and machine-learning technology, the Xometry marketplace provides immediate pricing, delivery lead times and quality assurance in a highly fragmented environment, as well as a suite of financial products that enable manufacturers to grow their businesses.
Thomas brings deep relationships with highly qualified enterprise buyers and engineers. The company’s industry leading Thomasnet.com platform boasts more than 1.3 million registered users (including 93 percent of Fortune 1000 companies) and more than 500,000 commercial and industrial sellers, including 45,000 diversity certified sellers. Every year, more than 20 million sourcing sessions are initiated on Thomasnet.com, generating extensive first-party buyer intent data across multiple sectors.
Transaction Details
Under the terms of the deal, Xometry is acquiring Thomas on a cash-free, debt-free basis for $300 million subject to customary adjustments – approximately $198.5 million in cash and $101.5 million in Xometry’s Class A common stock.
The acquisition is expected to be immediately accretive to gross margin and Adjusted EBITDA margin. We expect the deal to accelerate our path to profitability and expect full year profitability in 2023. Based on anticipated revenue synergies, we expect the pro forma company revenue growth rate to be consistent with Xometry’s expected revenue growth on a standalone basis in 2022.
Goldman Sachs & Co. LLC acted as the financial advisor and BakerHostetler acted as the legal advisor to Xometry. DC Advisory US acted as the financial advisor and Winston & Strawn LLP as the legal advisor to Thomas.
Investor Presentation & Conference Call
Xometry has published a presentation to its investor relations website at https://investors.xometry.com.
Xometry management will host a conference call at 8:30 a.m. today, Dec. 8, to discuss the acquisition.
