For approximately EUR 43 mn, 3D printing equipment supplier Stratasys (Eden Prairie, Minnesota, USA; www.stratasys.com) has acquired the Additive Manufacturing business of German engineering plastics producer Covestro (Leverkusen; www.covestro.com). The acquisition is expected to close during Q1 2023, subject to regulatory approvals. There is a potential earnout of up to EUR 37 mn, subject to the achievement of various performance metrics.

The acquisition includes R&D facilities, production assets, along with offices and sales teams in Germany, the Netherlands, the US, and China. The portfolio of the Additive Manufacturing segment also includes products of the Resins & Functional Materials unit purchased from DSM (Heerlen, the Netherlands; www.dsm.com) in 2021 (see Plasteurope.com of 24.02.2021), and thus a total portfolio of 60 polymer-based additive manufacturing materials, including the Somos and Addigy brands. The majority of employees within the acquired entity will continue to be based in Geleen, the Netherlands, and Elgin, Illinois, USA.

Related: Stratasys acquires 3D printing start-up for USD 100 mn

Stratasys – a company with Israeli roots – produces additive manufacturing equipment and also sells related materials. The components produced in the 3D printing process are used in the aerospace, automotive, and medical technology sectors, among others. According to CEO Yoav Zeif, Stratasys achieved a turnover of USD 607 mn (EUR 588 mn) last year, which represents a growth of 17%.