3D Systems, with yet another installment in their aggressive acquisition strategy, has announced a definitive agreement to acquire Robtec, the largest additive manufacturing service bureau in Latin America.
Based in Sao Paulo, Brazil, Robtec is also a leading 3D printing and scanning products distributor in that region.
According to the terms of the deal, 3D Systems will acquire 70% of the shares of Robtec when the agreement is inked and then take possession of the remaining shares on the 5th-year anniversary of the closing. Other terms of the transaction were not disclosed.
"We believe that the strong strategic and cultural fit between our companies, combined with Robtec's on-the-ground additive manufacturing service bureau capabilities, expanded channel coverage and deep automotive and aerospace customer relationships could present significant benefits for our customers, sizeable growth opportunities for us and greater value for our shareholders," said Avi Reichental, President and CEO of 3D Systems.
For the last two decades, Robtec has operated in the additive manufacturing service bureau space. This transaction positions 3D Systems to take advantage of a platform for Quickparts.com and provides a basis for custom manufacturing expansion in the Latin American market.
The transaction is expected to be completed within the next 90 days, subject to customary closing conditions. Robtec delivers best-in-class rapid prototyping and custom manufacturing services and brings established, long-term relationships with leading aerospace and automotive companies like Embraer, Siemens, Volkswagen, Fiat, CenPra, Visteon and Mercedes to the table.
"This is the right time for us to add a company of Robtec's reputation, experience, growth record and scale in Latin America," Reichental said. "With key operations in Brazil, Argentina, Chile, Uruguay and Mexico, proven service bureau operations and leading printing and scanning distribution activities, Robtec represents the cornerstone of our Latin American expansion plans."
Robtec President, Pablo Elenter, said the deal hit the ground running, already offering 3D Systems products and services.
"We're excited to become part of 3D Systems," said Elenter. "We plan to leverage our collective knowledge and experience for the benefit of our customers by building stronger local presence and immediately delivering the full range of 3DS products and services throughout the region."