Background
- Thomas Publishing Company (Thomas) has served as a leading industrial sourcing platform and marketing powerhouse in the US for over 120 years, serving professionals on both sides of the industrial buying process to create solutions that inform, support, and empower industry
- Thomas’ industry leading ‘Thomasnet.com’ platform boasts more than 1.3 m registered users (including 93% of Fortune 1000 companies), and more than 500,000 commercial and industrial sellers (including 45,000 diversity certified sellers). Every year, more than 20 m sourcing sessions are initiated on Thomasnet.com, generating extensive first-party buyer intent data across multiple sectors
- Xometry is an industry leader in on-demand manufacturing and is NASDAQ-listed, connecting enterprise buyers across industries such as aerospace, consumer products, defense, and more, with sellers of custom-manufactured parts worldwide
- Xometry had 26,187 active buyers as of Q3 2021, 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 – alongside a suite of financial products that enable manufacturers to grow their businesses
Process
- Discussions between Thomas and Xometry were initiated over the prospect of a strategic combination, and in early October, Xometry submitted a formal LOI to acquire Thomas
- DC Advisory (DC), led by Joe Donohue and Shawn Neuren, was exclusively engaged by Thomas to provide comprehensive sell-side financial advice
- DC orchestrated an accelerated diligence process between Thomas and Xometry, whilst also working closely with the Thomas management team to guide decisions on critical deal points
Outcome
- The acquisition of Thomas - announced on 8 December 2021 - is expected to rapidly expand Xometry’s buyer and seller base, significantly enhancing Xometry’s global digital marketplace for manufacturers
- Xometry also expects to leverage Thomas’ marketing and data services to deliver a suite of end-to-end services for sellers, with additional fintech and digital marketing products
- This transaction bolsters DC’s track record and strong existing credentials in the information services space
'Joe, Shawn, and the team at DC, did an exceptional job of representing Thomas in an extremely intricate and difficult transaction. I so enjoyed working alongside them and couldn’t have asked for better partners throughout this journey!’