The Business

Solidscape, Inc. (www.solid-scape.com) is a Merrimack, New Hampshire-based developer and manufacturer of high-precision 3D printers for lost-wax casting applications. Solidscape systems are used for modeling prototypes and casting patterns for fine jewelry, dental restorations, turbine blades, medical instruments, orthopedics, consumer goods, electronics and many other high-precision products. The company is widely recognized as the leader for investment casting applications that require superior accuracy, fine feature detail and a smooth surface finish. Solidscape had revenues of $13.4 million and generated EBITDA of approximately $4.3 million for the calendar year 2010. Stratasys acquired Solidscape for $38.0 million.

The Industry

Solidscape participates in the 3D printer segment of the rapidly growing $500+ million global additive manufacturing industry, which is still in its infancy. The company has established itself as an innovator and leader within its niche, with a dominant competitive position in the jewelry design and manufacturing sectors. Global competitors in the 3D printer market include envisionTEC (Germany), Digital Wax (Italy), 3D Systems (USA), and Objet Geometries (Israel).

The Process

Prestwick Partners initiated this transaction and acted as the exclusive financial advisor to Solidscape, Inc. and its shareholders. Prestwick designed an M&A process, prepared marketing materials, evaluated acquisition proposals and negotiated the transaction with Stratasys, Inc., the global market leader in the 3D printer market. Prestwick’s process included both domestic and international strategic acquirers as well as private equity groups.