Fictiv acquired for $350M by Japanese components supplier
San Francisco-based Fictiv has been acquired by Misumi Group Inc. in an all-cash deal worth $350 million.
The acquisition will help Misumi Group expand its digital services and expand its customer base, officials said.
Tokyo-based Misumi Group is one of the largest global industrial suppliers of off-the-shelf manufacturing components. The company has 22 manufacturing sites and 20 logistics facilities around the world, producing and distributing industrial supplies to 318,000 global companies.
'The aim of this acquisition is to enhance our digital services … while concurrently expanding our customer domain,' the company said in a news release. 'By acquiring Fictiv, we will rapidly increase the value we provide from the traditional realm of production equipment to the upstream area of product development within the value chain.'Misumi Group's U.S. locations include a supplier network called Sugura USA, with facilities in Addison, Illinois, along with distribution centers in Chicago and Torrance, California.
Fictiv, founded in 2013, offers on-demand procurement services for custom mechanical components parts for the U.S. manufacturing industry. The company has production operations in the U.S., China, India and Mexico, with a total of 400 employees.
Fictiv has produced over 35 million commercial and prototype components to date and also has a global partner network of 250 manufacturing partners worldwide.
In November 2023, Fictiv opened a production facility in Monterrey, Mexico, aiming to offer more options for on-demand manufacturing services across North America.'This agreement marks a major milestone for Fictiv and the broader manufacturing ecosystem. Misumi's investment validates the power of AI-driven supply chain innovation and our shared vision to make manufacturing more accessible, intelligent, and scalable,' Dave Evans, Fictiv's co-founder and CEO, said in a statement. 'Together, we're building a global platform that helps engineering and supply chain teams bring ideas to life faster and more efficiently than ever before.'
The post Fictiv acquired for $350M by Japanese components supplier appeared first on FreightWaves.
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