Global industrial technology business SyBridge Technologies (“SyBridge”) said today that its wholly-owned affiliate, SyBridge Digital Solutions LLC, had been chosen as the successful bidder for a number of Fast Radius, Inc. (“Fast Radius”) assets [OTCMKTS: FSRD]. Before the end of 2022, the sale is anticipated to close with bankruptcy court permission. The majority of Fast Radius’ operational assets are being acquired by SyBridge, and the company plans to extend job offers to most of its current workforce. Fast Radius will continue to run and expand its digital manufacturing and software business under SyBridge and will market its products under the Fast Radius moniker. Since its founding in 2019, Sybridge has acquired fourteen companies.
Fast Radius (www.fastradius.com), a prominent provider of digital manufacturing solutions with headquarters in Chicago, Illinois, was founded in 2017 and has since assisted its clients in producing over 15 million components across more than 150,000 discrete designs. In order to facilitate easier and more accessible manufacturing, Fast Radius has also created a cutting-edge software package that unifies design, production, and fulfilment activities onto a single digital platform.
Crestview Partners, a private equity group based in New York, invested $200 million in SyBridge Technologies in order to become a market-leading provider of value-added manufacturing solutions that spans end markets, regions, and cutting-edge technological capabilities.

Source: Prnewswire