BigRep, a specialist in large-format 3D printers, and SMG Technology Acceleration SE (“SMG”), a Luxembourg-based SPAC (Special Purpose Acquisition Company), have signed a non-binding letter of intent for a business combination between BigRep and SMG. Through the proposed merger, BigRep plans to be listed on the Frankfurt Stock Exchange.
BigRep recently acquired HAGE3D GmbH (“HAGE3D”), strengthening its position in the German-speaking industrial AM sector. With this first step, BigRep will realize far-reaching synergies by scaling its full range of FFF solutions from low to high temperature on its global growth platform. Including a strong brand, an extensive reseller and support network, as well as its scalable supply chain with contract manufacturers. BigRep consists of a team of over 100 3D printing experts and has five strategically located application centers internationally. In total, the company has installed more than 1,000 large-format industrial FFF printers.
Dr.-Ing. Sven Thate, Managing Director and CEO of BigRep GmbH, comments: “We expect the AM market to continue its dynamic growth in the future, driven by strong megatrends such as digitalization and decentralization of manufacturing. BigRep capitalizes on these transformations by offering complete industrial AM solutions that combine reliable hardware, productivity-enhancing software, high-quality materials and excellent customer service. Industrial, automotive and aerospace customers demand not only a fast ROI for small parts, but also for the production of large, complex functional parts. It is precisely this sweet spot that we address with our solutions based on Fused Filament Fabrication (FFF), by far the most widely used AM technology.”
Dr. Reinhard Festag, Managing Director and CFO of BigRep GmbH, adds: “At the same time, we are active in a very fragmented market that offers a lot of potential for consolidation. For example, by combining lesser-known players with outstanding technologies under one roof in order to expand our comprehensive solution portfolio and achieve economies of scale for the benefit of our customers. As a fast-growing global player, we plan to create a European market leader in AM technology through a buy-and-build strategy, expanding our portfolio, our market reach and the talent working at BigRep. The letter of intent with SMG is an important next step in this journey.”