Groupe Gorgé, the French industrial engineering organization and parent company of 3D printer manufacturer and service provider Prodways Group, has announced the acquisition of 3D printing service bureau Creabis.
Creabis’ specialism in the serial production of 3D printed plastic parts will strengthen Groupe Gorgé’s Products division and enable the group to enter a new growing market in Europe.
The acquisition will bolster the group’s 3D printer fleet by almost 30 percent, while unlocking “significant operational synergies” in terms of cost and revenues.
Creabis’ 3D printing credentials
Creabis was founded in 2011 by 3D printing expert and pioneer Ralf Deuke and offers a range of 3D printing technologies for the serial production of plastic parts. The company, which turned over €3 million last year, operates a fleet of 11 printers with capabilities in SLS, SLA, Polyjet, Multi-Jet Fusion (MJF) and FFF.
Creabis also offers plasma-aided bonding for 3D printed parts which Deuke has identified as technology that will open up more novel applications in additive manufacturing.
Creabis came to Groupe Gorgé’s attention not only for its wide range of 3D printing technologies but also for its good profitability profile, which will subsequently feed into the profitability of the group’s Products division.
Groupe Gorgé’s reasons for acquiring Creabis
The acquisition of Creabis marks an acceleration of Groupe Gorgé’s international development strategy, allowing the group to increase the size of its products division. The deal will strengthen the group’s production of 3D printed parts developed through its Initial brand.
The group’s fleet of 3D printers will grow by almost 30 percent to number around 50 machines, and the breadth of 3D printing technologies, printer types, and materials it offers to its customers will be expanded.
Cross-selling revenues will also be generated from the acquisition thanks to the complementary customer bases of the two companies, in addition to the group’s expanded service offering. According to the group, its increased size will also allow access to improved purchasing conditions, particularly concerning 3D printing materials not produced by Gorgé.
The acquisition will be financed by Prodways’ available cash and will be the focus of a dedicated refinancing in the short term.
Reigniting the external growth strategy
After spending some time consolidating the companies it acquired in 2020, Groupe Gorgé is now relaunching its external growth strategy. Acquiring Creabis will allow the group to strengthen its products division’s position in the important German market, which the company’s materials business has grown within since its acquisition in 2014.
Groupe Gorgé also stated the acquisition ideally positions the group to take “full advantage” of the economic recovery underway from the difficulties linked to global supply chains in the midst of the Covid-19 pandemic.
The firm reported a return to growth within its Q1 2021 financials, bolstered by an increase in its 3D printing revenue, which rose from €15.5 million to €16.6 million. Similarly, the company’s Products segment, which includes its on-demand and medical 3D printing portfolio, recorded a sales increase of nearly 10 percent during the period.
A string of additions and improvements to Prodways’ portfolio is thought to have contributed to these figures, with the firm announcing the roll-out of its ProMaker P1000X 3D printer at last year’s Formnext Connect, the addition of its 3D Super-Resolution algorithm to its MovingLight 3D printers, and beginning to offer Oqton’s AI-powered software with its machines.
In its latest financial results, the company stated it believes it is “well-positioned” to achieve its development ambitions and continue its sales momentum for the remainder of the year. The firm will release its next set of financials at the end of this month.
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Featured image shows Groupe Gorgé returned to growth in its Q1 2021 financials. Photo via Groupe Gorgé.