Anzu Partners Acquires Voxeljet AG for Advancing 3D Printing
In a significant move for the 3D printing industry, Anzu Partners has reached an agreement to acquire Voxeljet AG, a pioneer in additive manufacturing technology. This acquisition is set to amplify Voxeljet's capabilities as it strives to meet the growing demands of the industrial sector. The deal focuses on the complete acquisition of Voxeljet's business, signaling Anzu's commitment to fostering innovation in manufacturing processes.
Details of the Acquisition Agreement
The acquisition is undergoing standard closing conditions and is projected to finalize soon. Anzu Partners aims to ensure a smooth transition for Voxeljet's existing customers, suppliers, and staff as they embark on this new chapter. Whitney Haring-Smith, Anzu's Managing Partner, will take on the role of Chair of Voxeljet's Board of Directors following the close of the transaction, while current CEO Rudolf Franz will remain at the helm of operations.
Strengthening Operations and Market Presence
Haring-Smith emphasized Voxeljet's competitive advantages in the market, particularly its advanced technology that supports large-scale additive manufacturing. He noted, "The technology behind Voxeljet is uniquely positioned to address current challenges like localized supply chains and sustainability initiatives, making it a key player in the future landscape of manufacturing."
Continued Commitment to Innovation
Rudolf Franz echoed this sentiment, expressing that the combination of Voxeljet's talented team and Anzu's extensive technological network will propel the company into an era of unprecedented growth. He stated, "With our accumulated expertise and Anzu's strategic vision and resources, we are set to achieve great heights in the competitive 3D printing market."
Financial Aspects of the Transaction
The estimated enterprise value for this transaction is around EUR 20 million, which will be settled through the integration of Voxeljet's liabilities along with a cash payment of about EUR 1.7 million. Standard adjustments are anticipated as the deal progresses towards completion.
Exploring Further Opportunities
As part of the agreement, a 'go-shop' provision enables Voxeljet to explore other acquisition offers until a specified date. This strategy ensures that Voxeljet remains open to new opportunities while the board evaluates the proposal from Anzu Partners.
Future Steps Following the Agreement
Upon reviewing potential offers during the go-shop period, Voxeljet's management intends to seek shareholder approval shortly. This includes a proposal regarding the future of the company, which could involve liquidation post-transaction. This dual approach indicates a thorough consideration of Voxeljet's strategic direction after the acquisition.
About Anzu Partners
Anzu Partners operates as a venture capital firm with a keen focus on clean technology and life sciences. Its mission is to facilitate transformation across industries by partnering with entrepreneurs to commercialize innovative solutions. With assets nearing $1 billion, the firm boasts a diverse team dedicated to fostering growth and cutting-edge advancements in technology.
About Voxeljet
Founded in 1999 from the Technical University of Munich, Voxeljet has made significant strides in 3D printing technology. Initially starting with a small team, it has evolved into a foremost supplier of large-format 3D printers and services internationally. Voxeljet’s innovative processes are revolutionizing production methodologies, catering to sectors ranging from aerospace to engineering.
Frequently Asked Questions
What is the significance of Anzu Partners acquiring Voxeljet AG?
The acquisition aims to enhance Voxeljet's capabilities in the industrial 3D printing sector, fostering innovation and supporting growth.
Who will lead Voxeljet after the acquisition?
Rudolf Franz will continue as CEO, while Whitney Haring-Smith from Anzu Partners will become the Chair of the Board.
How much is Anzu Partners paying for Voxeljet AG?
The acquisition is estimated at an enterprise value of approximately EUR 20 million, including a cash component.
What are the next steps in the acquisition process?
The acquisition is subject to shareholder approval and customary closing conditions. There is also a go-shop period for alternative proposals.
What is Anzu Partners' focus in its investments?
Anzu Partners specializes in clean tech, industrial, and life sciences technologies, helping to facilitate transformative advancements in these industries.
