Materialise Acquires ACTech, Full-Service Manufacturer of Complex Metal Parts
October 04 2017 - 9:15AM
Business Wire
Acquisition will enhance Materialise’s ability to offer complete
manufacturing solutions for unique 3D-printed metal parts.
Materialise (NASDAQ:MTLS) has today announced the
acquisition of ACTech, a Germany-based leader in producing limited
runs of highly complex cast metal parts. The transaction brings
together the metal competencies of Materialise, a leading provider
of additive manufacturing solutions and software, with those of
ACTech into a comprehensive metal manufacturing offering.
ACTech has over 20 years of deep knowledge and experience in the
production, treatment and quality control of complex metal parts.
The acquisition of ACTech’s expertise and in-house infrastructure
will enable Materialise to accelerate the development of its
existing metal competence center and take a strong position in the
market for the production and delivery of unique, complex
3D-printed metal parts.
“ACTech knows metal and how to shape it to production standard,
and we know Metal 3D Printing. Bringing those two competencies
together is vital to the delivery of high added-value metal
3D-printed parts for specialized applications,” said Wilfried
Vancraen, founder and CEO of Materialise.
Furthermore, the acquisition of ACTech will enable Materialise
to develop and improve its software suite for Metal 3D Printing
through close collaboration with ACTech, taking advantage of
learning from an active metal manufacturing environment.
“Through the acquisition, we are further enhancing the
manufacturing and software backbone position that will support the
entire industry. For over 27 years, we have always been there as a
leading, comprehensive provider of solutions in industrial polymers
printing. That position has enabled us to both develop and serve a
growing demand for certified manufacturing with dedicated software
and solutions. By joining forces with ACTech, we will accelerate
that same strategy for metal manufacturing,” continued Wilfried
Vancraen.
ACTech customers will gain immediate access to metal 3D-printed
parts for pre-production design iterations. Materialise will
leverage its Metal 3D Printing expertise to further grow ACTech’s
strong position in those markets where complexity and speed are the
driving factors.
Materialise acquired ACTech based on a total enterprise value of
€45 million for a total cash payment of €36.3 million to the
sellers. In 2016, ACTech realized German GAAP revenue of €34.3
million with €8.2 million in EBITDA and €2.3 million in net profit.
Materialise financed €28 million of the acquisition price through
long-term bank financing that carries average interest rates of
approximately 1.1% and used available cash for the remainder. The
transaction is expected to be accretive to EPS immediately upon
closing.
Materialise will update the company’s financial guidance for its
fiscal year ending December 31, 2017 when it announces its
financial results for the third quarter of 2017.
About MaterialiseMaterialise incorporates more than 27
years of 3D printing experience into a range of software solutions
and 3D printing services, which together form the backbone of 3D
printing technologies. Materialise’s open and flexible solutions
enable players in a wide variety of industries, including
healthcare, automotive, aerospace, art and design, and consumer
goods, to build innovative 3D printing applications that aim to
make the world a better and healthier place. Headquartered in
Belgium, with branches worldwide, Materialise combines the largest
group of software developers in the industry with one of the
largest 3D printing facilities in the world. For additional
information, please visit: www.materialise.com.
About ACTechACTech produces cast unique parts and small
batches for customers from various industries: for the automotive
industry and its suppliers, for the aerospace industry, for machine
and plant manufacturers. As one of the leading global companies in
this area, ACTech provides all design and production processes,
under one roof, necessary for the speedy production of complete
casting parts. From the 3D data set, ACTech produces complete
castings which are ready to be installed and tested.
State-of-the-art processes, combined with Computer Numerical
Control ("CNC") pattern making and CNC machining, provide for
extremely fast production of parts that, from the very first
casting, are comparable to series production. ACTech's expertise
benefits its customers by reducing development time and lowering
costs compared to using conventional methods. The result is a
smooth production launch for ACTech's customers. For additional
information, please visit www.actech.de.
Cautionary Statement on Forward-Looking StatementsSome of
the statements in this press release are "forward-looking" and are
made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include statements relating to, among other things, our
acquisition of ACTech, including the benefits of the transaction,
as well as statements regarding our and ACTech's products,
customers and markets. When used in this press release, the words
“estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,”
“believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,”
“should,” and variations of such words or similar expressions are
intended to identify forward-looking statements.
These forward-looking statements are based upon the expectations
of management under current assumptions at the time of this press
release. We caution you that forward-looking statements are not
guarantees of future performance and involve known and unknown
risks, uncertainties and other factors that are in some cases
beyond our control that may cause our actual results to differ
materially from our expectations. We are providing this information
as of the date of this press release and do not undertake any
obligation to update any forward-looking statements contained in
this press release as a result of new information, future events or
otherwise, unless we have obligations under the federal securities
laws to update and disclose material developments related to
previously disclosed information.
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Press Contact MaterialiseKristina
Camilleri-GrygolecCorporate Communications SpecialistEmail:
press@materialise.comVisit: www.materialise.comorInvestor
Relations ContactHarriet FriedSenior Vice President, LHATel: +1
212.838.3777Email: HFried@lhai.com
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