3D printing firm BigRep GmbH has a lot going on in early 2024, with plans for a merger, an acquisition and a listing on the Frankfurt Stock Exchange (FSE).
Berlin-based BigRep is merging with investment firm SMG Technology Acceleration SE, officials said in a Jan. 3 news release. Luxembourg-based SMG is described as "a European accelerator supporting the long-term development and growth of medium-sized enterprises."
BigRep also is wrapping up its acquisition of 3D printer maker HAGE3D of Austria. That merger was announced in November. The resulting additive manufacturing (AM) company will be listed on the FSE as BigRep SE in the first quarter of 2024.
Officials said that BigRep has "an open platform for industrial additive manufacturing solutions … [and] benefits from a holistic approach and its open platform for industrial AM." The firm was founded in 2014 and provides German-engineered 3D printers, intelligent software, high-quality materials and customized services.
"The trust of the industry in BigRep's products is reflected by more than 800 large format AM systems installed across a broad range of customers," officials said. The firm's customers include Ford Motor Co., Deutsche Bahn, Canyon and Airbus, as well as educational institutions and research institutes.
Managing Director Sven Thate said in the release that BigRep "is convinced that additive manufacturing is more than a trend, it is a paradigm shift in industrial manufacturing." Officials added that the firm's large-scale 3D printers "offer the flexibility to produce big industrial parts, as well as batches of smaller parts with high accuracy and low costs at high-speed."
BigRep's 3D printers use material extrusion of thermoplastic polymer materials for printing, which officials said is the most commonly used process in AM, with a share of around 40 percent of installed industrial systems in 2022.
"Unlike key competitors, BigRep is convinced that an open materials system, which gives customers freedom to use application-tailored BigRep materials or to use third party filaments, unlocks new applications both by its versatility and cost per part improvements," they added.
BigRep posted sales of 9.1 million euros ($9.9 million) in 2022. Officials said the firm had an 18 percent compounded annual growth rate between 2020 and mid-2023.
After the merger and acquisition, BigRep will have an enterprise value of about 157 million euros ($171 million). SMG and its investor partners are providing more than 30 million euros ($33 million) in funding for the deal.