Alantra advised Stratasys on the sale of Solidscape to Prodways
SECTORIndustrial Automation & Machinery; Industrials
Alantra is pleased to announce that Stratasys Ltd. (NASDAQ: SSYS) has sold its subsidiary, Solidscape, Inc. (“Solidscape” or the “Company”), to Prodways Group S.A. (“Prodways”). The transaction closed on July 16th, 2018 and the financial terms of the deal were not disclosed. Alantra acted as the exclusive financial advisor to Stratasys and Solidscape on this transaction.
Solidscape, based in Merrimack, New Hampshire, is a leading manufacturer of ultra-high precision 3D printers and printing materials that incorporate a diverse range of proprietary technologies. These machines allow for the direct printing of patterns for use in “lost wax” investment castings and developing prototypes of small industrial parts. Offering unrivaled precision and surface detail, Solidscape has sold over 5,000 of its systems globally to customers involved in the manufacturing of high-end, custom jewelry and the production of microcast parts for a variety of industrial and consumer applications. The Company provides ongoing services to its customers via an established network of global resellers and sales representatives.
Prodways, headquartered in France, is a subsidiary company of Groupe Gorge S.A. Prodways also designs and manufactures advanced 3D printing systems. Specifically, Prodway’s systems enable the direct printing of plastic and ceramic parts for industrial, consumer and medical applications. The acquisition of Solidscape will provide Prodways with a platform for growth in North America and allow it to expand further in the global jewelry and industrial microcast parts markets.
Alantra’s Boston-based industrial technology team managed the divestiture process on behalf of Stratasys. “We are delighted to have closed the transaction with Prodways and believe the deal will position Solidscape for sustained future growth,” said Wade Aust, Managing Director & Partner with Alantra.
“The divestiture of Solidscape highlighted many of Alantra’s unique capabilities,” added Greg Fanikos, Director. “We were able to utilize our experience in industrial technology and leverage our global reach to engage effectively with international buyers and position them to compete successfully in a process,” he concluded.
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