BigRep intends to debut on the stock exchange in the first quarter of 2024 with a valuation of EUR 157 million

In mid-November last year, BigRep – a German manufacturer of large-format 3D printers announced plans to enter the stock exchange by merging with the Luxembourg-based special purpose vehicle SMG Technology Acceleration. The transaction is now expected to close in the first quarter of 2024 and will also include the acquisition of rival company HAGE3D from Austria. The combined company is valued at approximately 157 million euros ($172 million). The new brand will be led by BigRep managing director Sven Thate and chief financial officer Reinhard Festag.

Once the transaction is approved by SMG shareholders, BigRep will become a listed company on the Frankfurt Stock Exchange, the third oldest and twelfth largest stock exchange in the world in terms of market capitalization. Under the agreement, BigRep and HAGE3D shareholders will exchange their shares in SMG, adding over EUR 30 million in capital. This financial injection, a key element of the merger, will combine BigRep, HAGE3D and SMG into one larger company, which will include shareholders from all three groups.

Financially, BigRep reported that its annual growth rate is +18% between 2020 and June 2023, which is expected to outperform the overall polymer 3D printing market. In 2022, BigRep reported revenue of EUR 9.1 million ($10 million), compared to EUR 7.6 million ($8.3 million) in 2021, with gross margin above 50%. This financial success is supported by a strong global presence, with significant revenue contributions from North America, EMEA (Europe, Middle East and Africa) and APAC (Asia and the Pacific). Despite these successes, BigRep’s EBITDA remained negative in 2022 due to significant R&D investments and global expansion, but the company aims to achieve financial break-even by 2026.

Source: via

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