Belgian 3D printing players and innovators, Materialise NV, a service bureau and makers of software for industrial and medical equipment manufacturers, filed for an initial public offering of American Depositary Shares with U.S. regulators this week.
The Materialise filing on Wednesday with the SEC is aimed at raising up to $125 million through an initial public offering. Founded in 1990, the firm notched $95 million in sales for the fiscal year ended December 31, 2013. The plan is for the company to list on the NASDAQ exchange, but thus far no symbol has yet been chosen.
The company says they've provided more than 8,000 3D printing software licenses to more than 4,000 customers. The list includes heavy hitters like Ford Motor Co, Airbus and Boeing Co.
Back in 1990, Wilfried Vancraen started Materialise to begin operations in the nascent Additive Manufacturing (AM) market as providers of software for biomedical research. The company now has an online service aimed at providing customized objects to consumers and a store in Brussels, the world's first store dedicated to 3D printed design and numbers some 1,000 employees worldwide.
The Materialise IPO follows on the heels of similar announcements from 3D printing firms like voxeljet and ExOne. Shares of the German 3D printer manufacturer voxeljet have more than doubled since the firm's IPO in October 2013.
Materialise revenues rose some 16 per cent to $95 million in 2013, and the company says it plans to use the proceeds from the IPO to expand its operations. The final size of the IPO, while it is expected to be in the neighborhood of $125 million, is at this point unknown. Underwriting the offering are Credit Suisse and Piper Jaffray, and as yet no target price has been announced for the initial shares.