M&A Deal Summary

Stratasys Acquires Solidscape

On May 3, 2011, Stratasys acquired manufacturer Solidscape from Tuckerman Capital, Hanover Partners and HighPoint Capital Management for 38M USD

Acquisition Highlights
  • This is Stratasys’ 1st transaction in the Manufacturing sector.
  • This is Stratasys’ 6th largest (disclosed) transaction.
  • This is Stratasys’ 1st transaction in the United States.
  • This is Stratasys’ 1st transaction in New Hampshire.

M&A Deal Summary

Date 2011-05-03
Target Solidscape
Sector Manufacturing
Buyer(s) Stratasys
Sellers(s) Tuckerman Capital
Hanover Partners
HighPoint Capital Management
Deal Type Add-on Acquisition
Deal Value 38M USD
Advisor(s) Prestwick Partners LLC (Financial)

Target

Solidscape

Merrimack, New Hampshire, United States
website
Solidscape, Inc. manufactures rapid prototyping systems that produce small, resin parts. The Company's equipment is particularly effective in making high-precision parts that require dimensional accuracy and a high quality surface finish.

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Buyer(S) 1

Buyer

Stratasys

Eden Prairie, Minnesota, United States

website


Category Company
Founded 1989
Sector Machinery
Employees1,981
Revenue 521M USD (2020)
DESCRIPTION
Entrance to Stratasys' corporate headquarters in Eden Praire, Minnesota.
Entrance to Stratasys' corporate headquarters in Eden Praire, Minnesota.

Stratasys is a manufacturer of 3D printers and 3D production systems for office-based rapid prototyping and direct digital manufacturing solutions. Stratasys was formed in 1989 and is based in Eden Prairie, Minnesota.


DEAL STATS #
Overall 1 of 15
Sector (Manufacturing) 1 of 2
Type (Add-on Acquisition) 1 of 11
State (New Hampshire) 1 of 1
Country (United States) 1 of 8
Year (2011) 1 of 1
Size (of disclosed) 6 of 6
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-04-16 Objet

Rehovot, Israel

Objet Ltd. is a provider of high quality, cost effective inkjet-based 3D printing systems and materials. A global company, Objet has offices in North America, Europe, Japan, China, Hong Kong, and India. Objet's 3D printing systems and materials are ideal for any company involved in the manufacture or design of physical products using 3D software or other 3D content. Objet's solutions can be typically found in sectors such as consumer goods and electronics, aerospace and defense, automotive, education, dental, medical, medical devices, architecture, industrial machinery, footwear, sporting goods, toys and service bureaus.

Buy -

Seller(S) 3

SELLER

Tuckerman Capital

Hanover, New Hampshire, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Tuckerman Capital is a private investment firm that targets smaller manufacturing companies, with a specific interest in companies that manufacture highly-engineered, non-commodity products across a broad range of industries. Tuckerman will also consider investments in niche service and distribution businesses. The Firm's target transaction size is between $8 and $30 million. Tuckerman relies on deal partners to help source potential transactions. Tuckerman Capital is based in Hanover, New Hampshire.


DEAL STATS #
Overall 3 of 12
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 3 of 8
State (New Hampshire) 1 of 1
Country (United States) 3 of 12
Year (2011) 1 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-03 Orthofeet

Northvale, New Jersey, United States

Orthofeet is a designer and manufacturer of orthopedic shoes and custom orthotics primarily serving the diabetic market. Orthofeet was formed in 1984 and is based in Northvale, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-15 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Sell -
SELLER

Hanover Partners

San Francisco, California, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
Size Small
Type Sector Agnostic
DESCRIPTION

Hanover Partners is a private investment firm that targets middle-market companies with enterprise value between $10 and $60 million and EBIT of at least $2 million. Hanover prefers manufacturing or service based businesses located in the United States that serve business customers. Avoided industries include retail, construction, consulting, job-shops, and distributors not adding specific value. Hanover Partners was formed in 1994 and is based in San Francisco, California with an additional office in Oswego, Oregon.


DEAL STATS #
Overall 5 of 12
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 5 of 8
State (New Hampshire) 1 of 1
Country (United States) 5 of 12
Year (2011) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-01 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-15 Handi Quilter

North Salt Lake, Utah, United States

Handi Quilter develops and manufactures branded and OEM quilting machines, frames, tables, computerized quilting systems, and quilting accessories. The company's products are primarily used in the home by dedicated quilting enthusiasts as well as by quilters with home-based businesses. Handi Quilter was founded in 1998 and is based in North Salt Lake, Utah.

Sell -
SELLER

HighPoint Capital Management

Boston, Massachusetts, United States


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

HighPoint Capital LLC is a specialty finance company that provides capital for internal growth needs, refinancings, strategic acquisitions, management buyouts and dividend recapitalizations. HighPoint provides cash flow and asset based senior and subordinated term loans ranging between $2 and $10 million for lower middle market companies. The firm focuses on companies with $10 to $100 million of revenue and EBITDA of $2 to $10 million. HighPoint Capital was formed in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 13
Sector (Manufacturing) 1 of 4
Type (Add-on Acquisition) 1 of 7
State (New Hampshire) 1 of 1
Country (United States) 2 of 13
Year (2011) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-23 Thorne Research

Sandpoint, Idaho, United States

Thorne Research, Inc. is a developer and manufacturer of high-quality, premium supplements sold primarily through medical professionals and also directly to consumers. Thorne Research is based in Sandpoint, Idaho.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-18 Fairchild Industrial Products

Winston-Salem, North Carolina, United States

Fairchild Industrial Products Co. is a designer and manufacturer of pneumatic and electro-pneumatic industrial control products and power transmission products. Fairchild's products are sold to a variety of end user markets, including the food processing, pharmaceutical, oil and gas, paper and pulp, textile, and automotive industries.

Sell $76M