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|Materialise Acquires ACTech, Full-Service Manufacturer of Complex Metal Parts|
Acquisition will enhance Materialise’s ability to offer complete manufacturing solutions for unique 3D-printed metal parts.
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
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 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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