Sandvik Exits 3D Printing Market with Sale of Osprey Metal Powder Business to Mimir

Global materials leader Sandvik has officially exited the additive manufacturing sector by selling its Osprey metal powder business to Swedish investment firm Mimir. This move follows a period of strategic shifts and the dissolution of a key partnership with Italian service bureau BEAMIT, signaling a retreat from Sandvik's initial goal of vertical integration in the 3D printing value chain. The transition marks a significant shift in the metal powder market as Osprey becomes an independent entity focused on accelerating growth in advanced manufacturing segments.

Sandvik's departure from the 3D printing market concludes a decade-long engagement that began in the mid-2010s. The company's strategy was originally built on heavy investment and vertical integration, highlighted by its 2019 acquisition of a major stake in the Italian service bureau BEAMIT and subsequent purchases of finishing solutions like Proxera. However, internal differences over valuation and strategic direction, coupled with changes in the executive leadership team, eventually led to a breakdown in the BEAMIT partnership and a gradual withdrawal from the sector, following the previous sale of 3T to SBO.

The divestment involves the carve-out of Osprey, Sandvik’s specialized metal powder business, to Mimir, a long-term private equity player. Osprey brings a substantial portfolio to the deal, including a library of over 2,000 alloy variants and 400 distinct alloys tailored for additive manufacturing, cold spray, and metal injection molding (MIM). Under the new ownership, MonteCap founder Mats Gunnarsson will serve as the chairman of the board, overseeing a strategy that intends to intensify investment in product development and international market expansion to leverage Osprey's established material science expertise.

While Sandvik’s exit reflects a broader trend of large industrial firms re-evaluating the timeline for additive manufacturing revenue, Osprey faces a competitive landscape defined by emerging technologies and international rivals. The business must now contend with lower-energy powder production methods from firms like 6K, Continuum, and Metal Powder Works, as well as aggressive expansion from Chinese players such as Avimetal. Despite these challenges, the move positions Osprey as an independent specialist capable of focusing exclusively on high-growth applications in defense, medical implants, and aerospace, where advanced alloys are increasingly critical.