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The German machine manufacturer agreed to sell its metal AM system business to Lenbach Equity Opportunities (LEO) III Fund, part of the Munich-based DUBAG Group. The new group will be based in Schio, Italy. The Trumpf brand will continue to be used during an interim period and will be phased out when the new company introduces a new brand. The divestiture is part of Trumpf’s strategic focus on its core businesses. 

Wohlers View:

A manufacturer of machines and industrial lasers, Trumpf entered the metal AM business in 2014. Until 2021, it operated a joint venture with Sisma, an Italian machine manufacturer specializing in metal AM for medical, dental and jewelry applications. The newly carved out 3D printing business will be based in Schio, the same location where it operated jointly with Sisma for many years. 

Trumpf’s entry into AM was based on leveraging the synergies with its laser and machine-building expertise. Its systems are considered high quality solutions for both PBF-LB and DED solutions. Privately-held Trumpf’s decision to divest suggests that the promise of a large AM system business failed to meet initial expectations. Several larger industrial brands that have entered the AM market have encountered similar headwinds as the development of the AM industry, while consistently growing, has not yet reached the scale that larger enterprises generally require to move the needle in their overall business strategy. Similarly, BASF recently exited the AM business—its assets ending up at Stratasys—most likely because of the industry’s failure to scale sufficiently. 

The sale of the 3D printing business will hopefully allow the company to thrive as an independent entity with a new brand. The LEO III Fund styles itself as a vehicle for “special situation” transactions, such as corporate carve outs with significant improvement potential. As such, the sale of the 3D printing business is unlikely to be characterized by Trumpf as a success-driven exit. The LEO III fund closed in 2024 after raising €80 million ($93.8 million), with three investments prior to the Trumpf transactions. Based on the company’s announcement indicating that the LEO III fund was the sole acquirer of the business unit, it is fairly safe to assume that, after eleven years in the AM business, the value of the transaction was not the stuff of Trumpf’s dreams.   READ

Stratasys says the acquisition will help accelerate the development of advanced polymer solutions. The company announced the acquisition on its LinkedIn page and has not yet filed an official press release or financial disclosure. The exact extent of the acquired assets was not disclosed. Under the agreement between the companies, a Stratasys subsidiary will offer best-effort support for Nexa3D customers and partners.  

Wohlers View: Nexa3D began scaling back its operations in late 2024, following a last-minute cancellation of its planned appearance at the Formnext trade show that November. Nexa3D’s initial product was a DLP vat photopolymerization (VPP) system, but it later offered polymer PBF systems and material extrusion (MEX) systems as well. Stratasys offers products in all of these technology areas, suggesting that the assets acquired were marginal to its business, but may have acquired the assets as a defensive IP strategy. The lack of a regulatory filing on the transaction ahead of its post on LinkedIn suggests that it was not significant to its business. The transaction is suggestive of a rationalization in over-represented areas of AM and would not be characterized as industry consolidation. The announcement that Stratasys would henceforth offer some level of support to operators of Nexa3D systems means that the latter is no longer an operating entity in any form. Recent years have brought a slew of new entrants into the market, especially of MEX and VPP systems, a glut that the market seems to be unable to sustain.   READ

Industrial AM system manufacturer Voxeljet emerged from reorganization with new capital. A court in Munich confirmed a reorganization roadmap, known as a StaRUG Plan. Anzu Special Acquisition Corp will contribute new equity in the amount of €2.5 million ($2.9 million) to fund the ongoing operations of the company. In addition, Anzu will waive debt totaling €3.5 million ($4.1 million). 

Wohlers View: Anzu agreed to acquire voxeljet in December 2024 in a deal valued at €20.03 million ($23.5 million) comprised mainly of assumption of liabilities and a small amount of cash. In late April 2025 shareholders failed to approve the deal, resulting in the StaRUG reorganization plan filing with the German court. Voxeljet went public on the New York Stock Exchange in 2013, raising more than $100 million. The company was delisted from public trading in April 2024. The company has struggled with profitability since going public. Its last published annual financial statement for 2023 reported a loss of €8.7 million. Based on the most recent financial data, and assuming continued losses on operations , it is unclear how long the new funding will last before additional funding will be required.  READ

The European Association of Manufacturing Technologies (CECIMO) has brought together 10 national AM associations from across Europe to enhance European competitiveness in AM. The joint manifesto published by CECIMO summarizes the strategic promise of AM and provides recommendations for advancing AM in the EU.  

Wohlers View: Among the benefits offered by AM, the manifesto lists sustainability, digital transformation, reshoring, and reduction of international dependencies as key drivers for the adoption of AM in Europe.  READ

Swiss company On has showcased its LightSpray technology for making sports shoes. If you have the time, scroll down the page link to watch a mesmerizing video of the production process. READ

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