3D printing and additive manufacturing machines maker Stratasys Ltd. is buying two privately-held players in the additive manufacturing field.
Stratasys will acquire Solid Concepts – said to be the largest independent additive manufacturing service bureau in North America – for approximately US$295 million; and specialty additive manufacturing service bureau Harvest Technologies for an undisclosed amount.
The transactions are expected to be completed early in third quarter 2014.
Upon completion of the transactions, Stratasys will combine Solid Concepts and Harvest Technologies with RedEye – Stratasys’ existing digital manufacturing service business – to establish one additive manufacturing services business unit. Joe Allison, president of Solid Concepts, will join the Stratasys management team and lead the combined parts business, Stratasys said in a statement.
Stratasys has corporate headquarters in Minneaspolis, Minn., and Rehovot, Israel.
“With the addition of Solid Concepts and Harvest Technologies, Stratasys is creating a leading strategic platform focused on meeting customers’ additive manufacturing needs through an expanded technology and business offering,” the statement said. “The combination of Solid Concepts’ deep knowledge of manufacturing and vertical focus, such as medical and aerospace, and Harvest Technologies’ experience in parts production, as well as materials and systems knowhow, together with RedEye, strengthens Stratasys’ direct digital manufacturing and parts production expertise.”
Founded in 1991, Valencia Calif.-based Solid Concepts has six U.S. facilities staffed by approximately 450 employees, and generated revenues of approximately US$65 million in 2013.
Founded in 1995, Harvest Technologies is based in Belton, Tex., and has approximately 80 employees.