By DE Editors
Minneapolis-based Stratasys, Inc., a manufacturer of 3D printers and other additive manufacturing systems, has acquired Solidscape, Inc., a Merrimack, NH-based manufacturer of 3D printers, for $38 million plus certain purchase price adjustments.
Solidscape is known for 3D printers that use lost-wax-investment casting applications that require high accuracy and a smooth surface finish. The company sells into several markets and is popular within the jewelry design and manufacturing industry.
“Solidscape is a strong, profitable company with an excellent reputation in the markets it serves,” says Stratasys CEO Scott Crump. “We believe there is a significant market opportunity to expand its business in the under-penetrated jewelry market and the relatively undeveloped medical, dental and industrial markets. Solidscape’s 3D printers are used in the manufacturing process, which is consistent with our strategy to pursue new markets for direct digital manufacturing applications.”
Stratasys says it will support Solidscape product development with the goal of producing systems that target new applications. Solidscape will operate from its base in New Hampshire as a wholly owned subsidiary of Stratasys. Solidscape leadership and management will stay with the company.
“Stratasys is regarded as one of the best-run, most stable companies in the additive manufacturing industry,” says Solidscape Chairman David Bothwell. “The company brings a wealth of resources to the table with its financial strength and its management team. The resources of a strong company like Stratasys give Solidscape a better platform on which to grow our business.”
Solidscape had revenues of $13.4 million and generated approximately $4.3 million in Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for calendar year 2010.
Sources: Press materials received from the company and additional information gleaned from the company’s website.