MiSUMi Group, a global supplier of mechanical components for the manufacturing industry headquartered in Japan, has acquired Fictiv, a provider of on-demand custom mechanical components procurement services for the U.S. manufacturing industry, for $350 million.
MiSUMi’s aim with the acquisition is to enhance its digital services while expanding its customer domain.
Fictiv, founded in 2013, offers on-demand procurement services for custom mechanical components parts for the U.S. manufacturing industry. Fictiv has operations in four global regions in the United States, China, India and Mexico, and approximately 400 employees, with a partner network of approximately 250 manufacturing partners worldwide.
“Fictiv and MiSuMi share a joint vision to make access to world-class manufacturing and supply chain capabilities easier, more accessible, more intelligent and democratized,” said Dave Evans, co-founder and CEO, Fictiv. “Giving more teams the tools to take their ideas from concept to reality will unlock innovation to fuel the advancements we want to see in the world.”
This acquisition represents an investment by MiSuMi to accelerate the emergence of manufacturing and supply chain solutions that deploy the power of AI through digitally native tools built on top of robust physical infrastructure to build real-world products in an efficient, scalable way, according to Fictiv.
“This is an exciting moment for our company, but an even more important one for our customers, as this acquisition will enable us to turbocharge our mission to simplify sourcing,” said Nate Evans, co-founder and CXO at Fictiv, as well as the brother of David Evans. “Fictiv and MiSUMi bring together digital and physical infrastructure to support a full bill of materials and reduce the time, cost and risk associated with building and scaling products.”
Based in Japan, MiSUMi supplies mechanical components, tools, consumables and other products to more than 318,000 companies worldwide.
