Stratasys is selling its 3D printing services company – Stratasys Direct

Stratasys announced that it completed the sale of Stratasys Direct Inc. on August 31, 2023. – a 3D printing services facility located in Poway, California to Lamarjean Group, operating under the PolyCraft Tech brand. Stratasys Direct Manufacturing was formed in 2015 when Stratasys acquired Solid Concepts, Harvest Technologies and RedEye Services, creating an independent services company.

Stratasys Direct is a service company providing on-demand production of parts using 3D printing technology. The decision to sell a non-core plant is part of the operational transformation activities that began in early 2023. The aim of the activities is to increase focus, accountability, internal efficiency and speed of customer service, while improving profitability.

“The closing of this transaction demonstrates the clear, decisive actions we are taking to ensure our team remains focused on delivering high-quality and specialized products to customers around the world and improve Stratasys Direct’s profitability,” said Gurvinder Kahlon, CEO and vice president of the company. “Stratasys Direct has a strong foundation based on extensive technology expertise, and I am confident that opportunities lie ahead as we continue to take steps to achieve higher margins and position the company for future growth.”

“This is an important step in aligning the business with the company’s growth strategy and streamlining the organization to improve performance,” said Dr. Yoav Zeif, CEO of Stratasys. “The Stratasys Direct team is already enhancing our SAF and P3 technologies and has developed relationships with key customers through cross-selling. By focusing even more on Stratasys’ core strengths and technologies, the team will be even better prepared to provide customers with leading additive manufacturing solutions.”

Source: www.stratasys.com