– German 3D printer manufacturer BigRep is merging with SPAC SMG Technology Acceleration SE and acquiring Austrian rival HAGE3D, creating a new entity valued at $172 million.
– Instead of an IPO, BigRep has chosen the SPAC framework to go public, allowing them to bypass regulatory scrutiny and enter the market faster.
Well folks, you thought 3D printing was impressive before? Just wait until you get a taste of what German 3D printer manufacturer BigRep is cooking up. In a move that screams “go big or go home,” BigRep has decided to tie the knot with Luxembourg-based SPAC SMG Technology Acceleration SE. Not only that, they’re also snapping up Austrian rival HAGE3D, in a deal that makes the Kardashians’ relationships look simple. This organisational ménage à trois is set to conclude in the first quarter of 2024, valuing the resultant entity at about $172 million. Now that’s what I call a pricey wedding gift.
In the land of business, going public is considered the ultimate glow up, and BigRep has decided to take the road less traveled. Instead of the traditional Initial Public Offering (IPO), they’ve opted for the SPAC framework. It’s like the drive-thru of the business world; you avoid the long lines of regulatory scrutiny and get your shares out to the market faster. Even though SPACs have seen a decline in recent years, they’re still the black-tie option for the Additive Manufacturing (AM) industry.
Once the deal passes the hawk-eyed inspection of SMG shareholders, BigRep will take its place on the Frankfurt Stock Exchange, the world’s equivalent of the high school popular kid when it comes to stock exchanges. As part of this deal, BigRep and HAGE3D shareholders will swap their shares for SMG’s, and SMG and partners will inject around $33 million into this new entity. The result will be a larger company that’s a blend of BigRep, HAGE3D, and SMG, like a business smoothie with a pinch of each ingredient.
BigRep, a company that’s been in the game since 2014, has carved a niche for itself in the world of 3D printing, boasting high-quality printers, intelligent software solutions, and a diverse range of materials. Their printers focus on the extrusion of thermoplastic polymers, a method that’s as popular in the AM industry as cat videos are on the internet. They’re known for producing everything from large industrial parts to smaller batches with accuracy, flexibility, and cost-effectiveness. And with a client base that includes Ford, Airbus, Deutsche Bahn, and Canyon, they’re certainly not short on popularity.
Now, BigRep might have gone public, but they’re not stopping there. They’re also planning on acquiring HAGE3D, an Austrian company that specializes in large-format medium and high-temperature fused filament fabrication (FFF) systems. It’s like catching a rare Pokémon; this acquisition will add a unique flair to BigRep’s product portfolio and expand its market reach.
As BigRep ventures into the public domain through its business combination with SMG and the acquisition of HAGE3D, the company is poised to strengthen its position as a provider of open additive manufacturing solutions. It’s a new chapter in the company’s history, and as we all know, in the world of business, change is the only constant. Let’s see where this takes them.