Wheb invests €6.6m in Mcor

Mcor will use the funding to bolster its sales team, develop new products and invest in its research and development activity.

The investment is the second to be drawn from Wheb's Green Growth Fund 2. In February, the fund completed its maiden investment by taking a significant stake in UBC, a Stuttgart-based producer of components made from carbon fibre composite materials.

The GP had been actively looking to enter the 3D printing market and cited the industry's recent growth in addition to Mcor's eco-friendly USP as key motivations behind the deal.

Company
Based in Dunleer, Mcor is a producer of environmentally friendly printers that use layers of paper instead of the plastics used by many rival products. The company was founded in 2005, has a headcount of 22 and stated it has increased its turnover by 800% since 2012.

Its use of paper is also intended to considerably lower the cost of 3D printer ownership and deliver more accurate CMYK full-colour results. The printers are made with water-based adhesives that also render the machines fully recyclable. Mcor's clients include design studios, architects, print shops and the education sector.

People
Conor MacCormack is the CEO and co-founder of Mcor; his brother, Fintan MacCormack, is CTO and co-founder of the business. Alexander Domin, a partner at Wheb, led the deal.

Advisers
Equity – William Fry (Legal); EY (Financial due diligence); Continuum (HR due diligence).
Company – Eugene Collins (Legal); Pagemill Partners (Corporate finance).

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