Last week, Stratasys created a new company, while it was losing the majority of shares in another one. Prodways just acquired Solidscape, a US-based 3D printing maker that was a subsidiary of Stratasys.
The French Group is an industrial 3D printing specialist that is acknowledged for 3 different technologies: stereolithography, with its MOVINGLight® series for 3D printing with resins and ceramics. This technology is mostly used in digital dentistry and jewelry. Laser sintering for plastics is also part of its technologies. The technology has even been recently used in the production of plastic injection molds for Schneider Electric. And Rapid Additive Forging Technology : this technology has recently been developed in collaboration with Nexteam and serves for the production of large titanium parts.
As for Solidscape, the company is an established player in the additive manufacturing industry. Founded in 1994, Stratasys acquired it in 2011. The company has evolved and focused its core business on casting applications, particularly for the jewelry market. Solidscape has already sold across Europe and America more than 5,000 machines that are used in manufacturing, mainly in the jewelry and investment casting sectors.
With the MOVINGLight® technology and the burnout resins, Prodways completes its offering with Solidscape’s proprietary technologies in order to propose a global offer on the investment casting market.
Consolidated over 12 months, Solidscape should generate revenue greater than $10 million in 2019, of which nearly 50% from sales of materials and supplies. The expected synergies, and particularly the marketing of small MOVINGLight® machines through the Solidscape network, should help the new subsidiary post a double-digit EBITDA by 2020. The brand name, management, and 66-person staff based in Merrimack, New Hampshire, United States, will be retained. This transaction will substantially expand Prodways Group’s presence in North America and increase its global geographic coverage through an international distribution network.
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