An affiliate of Anzu Partners is set to acquire EnvisionTec GmbH after receiving approval from a US court.
It follows the court approval last week of an Anzu Partners affiliate to acquire ExOne GmbH and ExOne KK. Desktop Metal, the parent company of these businesses, filed for Chapter 11 bankruptcy last month.
A press release distributed by Anzu Partners says that there have so far been no objections to the acquisition of EnvisionTec GmbH and the organisation does not anticipate any appeals. As a result, the parties will now begin implementing the transaction.
EnvisionTec was a pioneer in small-format resin-based 3D printing technology and was acquired by Desktop Metal in 2021 for around 300 million USD. Over the last two decades, the company has procured customers in industries such as automotive, dental and jewellery. In acquiring the company through an affiliate, Anzu has expressed a commitment to ensuring continuity across operational areas, and says customers and suppliers of EnvisionTec can expect 'consistent service and ongoing collaboration, with existing relations, agreements and service standards maintained.
“We recognise the strength of EnvisionTec’s customer and supplier relationships,” said Whitney Haring-Smith, Managing Partner at Anzu Partners. “Our priority is to ensure stability, honour existing commitments, and continue building trusted partnerships as we move forward together.”
Anzu Partners will move through the process of acquiring EnvisionTec GmbH and the two ExOne businesses concurrently. It has announced that Eric Bader will continue as the Managing Director for ExOne GmbH and Ken Yokoyama will continue as the Managing Director for ExOne KK, but is yet to confirm who will lead the EnvisionTec business moving forward.
The investment firm is also in the process of acquiring Voxeljet after a court approved a financial restructuring of the firm through the German Company Stabilization and Restructuring Act.
