M&A Deal Summary

Stratasys Acquires Covestro’s Additive Manufacturing Materials Business

On August 8, 2022, Stratasys acquired chemicals company Covestro’s Additive Manufacturing Materials Business from Covestro for 43M EUR

Acquisition Highlights
  • This is Stratasys’ 1st transaction in the Chemicals sector.
  • This is Stratasys’ 5th largest (disclosed) transaction.
  • This is Stratasys’ 2nd transaction in Germany.

M&A Deal Summary
Date 2022-08-08
Target Covestro’s Additive Manufacturing Materials Business
Sector Chemicals
Buyer(s) Stratasys
Sellers(s) Covestro
Deal Type Divestiture
Deal Value 43M EUR

Target

Covestro’s Additive Manufacturing Materials Business

Leverkusen, Germany
Covestro’s Additive Manufacturing Materials Business includes R&D facilities and activities, global development and sales teams across Europe, the U.S., and China, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending.

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Buyer(S) 1

Buyer

Stratasys

Rehovot, Israel
Category Company
Founded 1989
Sector Machinery
Revenue 628M USD (2023)
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 founded in 1989 and is based in Rehovot, Israel.

DEAL STATS #
Overall 14 of 15
Sector (Chemicals) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 2 of 2
Year (2022) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-12 MakerBot

Brooklyn, New York, United States

MakerBot is a producer and distributor of 3D printers. It was formed in 2009 and is headquartered in Brooklyn, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-25 Riven

Berkeley, California, United States

Riven is an open cloud software company accelerating high-precision additive manufacturing. The company's Warp-Adapted Models (WAM) based on proprietary 3D reality intelligence correct dimensional defects to meet demanding specifications at the production scale. It cuts weeks on product launches and expands additive manufacturing applications for service bureaus and OEMs. Riven is based in Berkeley, California.

Buy -

Seller(S) 1

SELLER

Covestro

Leverkusen, Germany
Category Company
Founded 1863
Sector Chemicals
Employees17,543
Revenue 14.4B EUR (2023)
DESCRIPTION

Covestro is a provider of high-value polymers and innovative solutions for key sectors such as transportation, construction, electronics, furniture, sports equipment and textiles. Covestro was founded in 1863 and is based in Leverkusen, Germany.

DEAL STATS #
Overall 4 of 4
Sector (Chemicals) 3 of 3
Type (Divestiture) 4 of 4
Country (Germany) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 PLIXXENT

Oldenburg, Germany

PLIXXENT is a European supplier of polyurethane systems. PLIXXENT operates four production sites in Germany, the Netherlands, Denmark and Spain and supports its diverse and international customer base in specification, design, development, logistics and aftersales support. Its Polyurethane systems are used in both flexible and rigid foam applications across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive.

Sell -
Mergr

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