Fresh from a year of tumultuous acquisition rumours, Stratasys has announced a $120 million investment from Fortissimo Capital, an Israeli private equity fund, as it looks to strengthen its balance sheet to be able to ‘capture market opportunities’.
With this transaction, Fortissimo will hold approximately 15.5% of Stratasys’ issued and outstanding ordinary shares, while Fortissimo managing partner Yuval Cohen will join the Stratasys board, replacing a still to be named Stratasys director.
“We believe in the future of additive manufacturing and are confident in Stratasys’ leading role in shaping the industry. We have long respected their history of solving customers’ critical manufacturing challenges and are confident they exemplify the necessary and strategic approach to fulfill the potential of 3D printing,” said Cohen.
“We look forward to being a part of Stratasys’ next chapter as we collaborate with its strong management team to build on the Company’s fundamental strengths to the benefit of the Company’s stakeholders.”
Billed as a ‘longterm commitment at a premium valuation’ Stratasys expects this private equity investment to drive growth and further strengthen the company’s balance sheet as it seeks to capture ‘inorganic value-creation opportunities’ in the additive manufacturing industry.
“Fortissimo’s investment underscores confidence in our leadership and performance, our ability to deliver solutions that solve customer needs and our long-term growth potential,” said Stratasys CEO Dr. Yoav Zeif.
“Fortissimo is an experienced private equity investor with a growth focus, deep understanding of our business and a proven track record of investment in private and public technology companies.
“We are excited to partner with Fortissimo and believe their meaningful investment and partnership-oriented approach will enable us to drive additional long-term value for all shareholders.”
