BigRep has signed a non-binding letter of intent with particular objective acquisition (SPAC) firm SMG Know-how Acceleration SE to mix their companies and record publicly on the Frankfurt Inventory Change.
It comes simply weeks after BigRep introduced the acquisition of HAGE3D, a fellow producer of extrusion 3D printing techniques. That deal ensured BigRep has a workforce of over 100 workers, 5 ‘strategically situated’ utility centres and an put in base of greater than 1,000 fused filament fabrication 3D printers.
Because it takes its subsequent step with SMG Know-how Acceleration SE, BigRep expects to have the ability to ‘proceed its progress path, pushed each organically and inorganically.’
Learn extra | Taking Inventory: The rise of Particular Objective Acquisition Corporations in AM
“We count on the AM market to proceed its dynamic progress for the foreseeable future, pushed by the robust megatrends similar to digitalisation and decentralisation of producing,” commented Dr.‐Ing. Sven Thate, Managing Director and CEO of BigRep GmbH. “BigRep embraces these transformations, offering full industrial AM options comprising of dependable {hardware}, productiveness software program, high quality supplies, and excellence in buyer help. With our options primarily based on Fused Filament Fabrication (FFF) being by far probably the most extensively used AM know-how, we’re within the candy spot of business, automotive, and aerospace purchasers searching for quick ROIs not just for small components but in addition for giant, complicated purposeful half manufacturing.”
Dr. Reinhard Festag, Managing Director and CFO of BigRep GmbH, added: “On the identical time, we function inside a really fragmented market providing vital potential for consolidation. By unifying beneath‐crucial gamers with excellent applied sciences, we goal to broaden our complete resolution providing and leverage economies of scale‐ to profit our clients. As a quick rising, international participant, we plan to type a European chief in AM know-how by way of a purchase and construct method, increasing our portfolio, market attain, and skills working at BigRep. The signing with SMG marks a major subsequent step on this journey.”
BigRep turns into the newest 3D printing firm to pursue a public itemizing by way of a SPAC merger, after Desktop Metallic, Markforged, Velo3D, Shapeways and Fathom. Quick Radius additionally went public by a SPAC deal earlier than submitting for Chapter 11 Chapter this time final yr, whereas Essentium started proceedings in late 2021 earlier than seeing the deal fall by in early 2022.
