Lubrizol acquires Loveland’s Avid Product Development

LOVELAND — Avid Product Development LLC, a Loveland-based 3D printing company, has been acquired by The Lubrizol Corp., based in Cleveland, Ohio. Terms of the deal, which closed Aug. 1, were not disclosed.

Avid offers design for additive manufacturing, prototyping and production, serving the footwear, consumer goods, industrial and medical markets. The company was founded in 2012.

“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,” Doug Collins, founder of Avid Product Development, said in a prepared statement.

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Lubrizol, founded in 1928, owns and operates more than 100 manufacturing facilities, sales and technical offices worldwide, producing additives for gasoline and diesel fuel, as well as industrial lubricants. The company has about 8,800 employees and was acquired by Berkshire Hathaway Inc. in 2011 for $9 billion. 

“Lubrizol continues to invest in opportunities that bring new differentiated solutions to our customers,” said 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.”

Avid will retain its name and will operate as a subsidiary of Lubrizol, said Laura Hall, Lubrizol’s global market intelligence and strategic communications manager. The company will remain in Loveland.

“The ability of Avid to print and to offer those post-processing design services really complimented Lubrizol’s capabilities well and will position both organizations … for success in the markets,” Hall said.

Hall declined to reveal the number of Avid employees in Loveland, but the company’s LinkedIn page connects to 12 employees.

The sale of Avid comes nine months after the sale of another 3D printing company in Loveland. Aleph Objects Inc. was sold in November 2019 to Fargo Additive Manufacturing Equipment. That deal occurred after Aleph laid off 91 workers.