April 7, 2014

Luebeck, Germany-based 3D printer maker SLM Solutions is preparing an IPO on the Prime Standard segment of the regulated market of the Frankfurt Stock Exchange, aiming to raise 75 million euros ($103 million) to finance further growth.

SLM Solutions, specialises in selective laser melting (SLM) machines, serves an increasing number of blue chip customers, from various industries such as aerospace, energy, healthcare and automotive. In this manufacturing process, microscopically thin deposits of metal powder (e.g. titanium, steel, aluminium or gold) are successively welded together by high-precision lasers to create solid metal parts. Currently, This patented process is mainly used for prototyping as well as single and zero series production of highly complex metal components that cannot be manufactured by traditional methods.

SLM Solutions have generated around 67% of revenues from customers outside Germany in 2013.

"We believe the market for metal-based 3D printing is at an inflection point, with the technology being ready for industrial serial production," said Chief Executive Markus Rechlin.

Today, the overall market for 3D printing is expected to increase from USD 2.204 billion in 2012 to USD 6 billion by 2017 and to USD 10.8 billion by 2021 worldwide according to industry expert Wohlers Associates. Metal based additive manufacturing accounted for EUR 161 million or around 9% of the overall 3D printing market in 2012.

The SLM Group generated 21.6 million euros of revenue in 2013, 2.5 million euros in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), representing annualised growth of 35% since 2011. From 2011 to 2013 the number of machines sold per year increasing from 7 to 28.

Last year, German mid-market buyout group DPE Deutsche Private Equity acquired a 57 percent stake of SLM Solutions and injected cash fresh capital to be used for further expansion. Currently SLM Solutions has 80 staff in Germany and the United States.

Credit Suisse and Deutsche Bank have been appointed as Joint Global Coordinators and Joint Bookrunners. Co-Lead Managers are BHF-BANK and Canaccord Genuity. Equinet Bank will act as selling agent. SLM's listed peers trade at between 30 and 90 times their expected annual earnings, according to Reuters data.

Posted in 3D Printing Company

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