Tokyo-based Misumi Group Inc. has acquired San Francisco's Fictiv for $350 million in an all-cash transaction. This acquisition is set to enhance Misumi's digital services and broaden its customer base. Misumi Group is a leading global supplier of industrial components, operating 22 production facilities and 20 logistics centers worldwide, serving over 318,000 companies.
The acquisition aims to elevate Misumi's digital offerings and expand its customer reach. By integrating Fictiv, Misumi plans to enhance value across the product development chain, from traditional manufacturing to upstream areas. In the U.S., Misumi operates under the network called Sugura America, with facilities in Illinois and distribution centers in Chicago and Torrance, California.
Founded in 2013, Fictiv specializes in on-demand custom mechanical parts for U.S. manufacturers, with operations in the U.S., China, India, and Mexico, employing 400 people. The company has produced over 35 million parts and collaborates with 250 manufacturing partners globally. In November 2023, Fictiv opened a manufacturing plant in Monterrey, Mexico, to enhance its North American services.
Fictiv's CEO, Dave Evans, highlighted the acquisition as a milestone, emphasizing the value of AI-driven supply chain innovations and the shared vision of making manufacturing more accessible, intelligent, and scalable.
