Solid Concepts Is AcquiredThursday, April 3, 2014
Stratasys, an international 3-D printing company, said it plans to buy Valencia’s Solid Concepts Inc. and another private company in Texas, and will merge them with its own manufacturing subsidiary.
Stratasys, which has headquarters in Eden Prairie, Minn. and in Rehovot, Israel, said it would pay up to $295 million for privately held Solid Concepts, which has been in business since 1991. It also is buying Harvest Technologies in Belton, Texas for an undisclosed sum.
The company makes 3-D printers and materials for personal use, prototyping, and production. Solid Concepts, a manufacturing services company, has 450 employees and generated $65 million in revenue last year. The deal calls for Stratasys to pay Solid Concepts’ owners $172 million when the deal closes, with additional payments to follow.
Stratasys has more than 1,800 employees and expects the two deals to close in the third quarter.