Fortissimo Capital's 120 million USD investment in Stratasys has closed, with the private equity fund acquiring 14% of the company's issued and outstanding ordinary shares.
The shares were purchased through a direct purchase of 11,650,485 newly issued ordinary shares at $10.30 per share, leaving Fortissimo with approximately 15.5% of Stratasys’ issued and outstanding ordinary shares.
In line with the deal, Stratasys CEO Dr. Yoav Zeif has voluntarily stepped down from the Stratasys board, with Yuval Cohen, Founding and Managing Partner of Fortissimo, taking his spot. Cohen brings more than 30 years of financial and leadership experience to the board.
Dov Ofer, Chairman of the Board of Directors of Stratasys, said: "I would like to congratulate Yuval on joining the Board of Directors. His rich business experience will bring great value to the company as it continues its path as a global leader in the field of 3D printing."
Cohen added: "Fortissimo made this significant investment in Stratasys out of recognition of its leadership, the tremendous growth potential inherent in its technology portfolio and its dedicated management team led by Yoav. I look forward to working with the company's outstanding Board of Directors and management to unlock value for customers, employees and shareholders."
Yoav Zeif remains as CEO of Stratasys.
