The company is valued about €20 million and the US-based investor had recently loaned €5.5 million to help with delisting.
voxeljet AG (“voxeljet”) agreed to sell its entire business to funds affiliated with Anzu Partners LLC (“Anzu”) via an asset deal worth $20 million of which about $1.7 million will be in cash. Voxeljet had de-listed from the NASDAQ earlier this year but its sales performance has been stable and even growing (although not skyrocketing). Anzu, an investment firm that focuses on industrial and life science technology companies with the potential to transform their industries, is a long-term investor for voxeljet and plans to help the company finally live up to its potential in terms of expanding the AM production market.
The closing of the transaction is expected to occur in March or April 2025. The purchase agreement is subject to customary closing conditions, including the approval of voxeljet’s General Meeting and foreign investment clearance in Germany. The General Meeting of voxeljet is expected to take place in the first quarter of 2025.
Anzu is acquiring voxeljet’s operating business with a strong commitment to voxeljet’s existing customers, suppliers, and employees. Whitney Haring-Smith will be the chair of the Board of Directors of the future business after closing, and the current CEO, Rudolf Franz, will lead the post-transaction business. In this transaction, the business has a strong partner to support further growth and financing of the business.
“For more than 25 years our incredibly talented teams have created some of the most powerful industrial 3D-printers,” said Rudolf Franz, CEO, voxeljet AG. “The combination of voxeljet’s world-class talent and extraordinary franchises with Anzu’s technology network, access to talent, ambitious vision and shared commitment to investing in the next generation of breakthroughs will help ensure our continued success in an increasingly competitive industry.”
While the sale price is in line with voxeljet’s current valuation, it still surprises how a technology that is behind many of the most advanced manufacturing applications at companies such as BMW and General Electric Vernova still has such a difficult time generating significant value for the company that invented and developed it.
Read the rest of this story at VoxelMatters
