Prodways Group, a specialist in industrial 3D printing and a subsidiary of French technology company Group Gorgé, has announced the acquisition of AvenAo Industrie.
The news comes after Group Gorgé reported a 18.2% increase in revenue from 3D printing for the first half of 2017, with €14.6 million of revenue recorded for the division.
AvenAo Industrie, is a specialist in the integration of Dassault Systèmes’ SOLIDWORKS. The software is widely used for 3D design and is a popular choice when designing multi part assemblies. AvenAo Industrie also offers 3D design and integration of 3D printing consultancy services.
The company is part of the AvenAo group, founded in 2002 by Sébastien and Lenny Vercruysse. In 2016, AvenAo Industrie had 75 employees.
Prodways continues to deepen expertise in 3D printing industry
The acquisition is the first since Prodways’ initial public offering (IPO) in May 2017.
The deal will acquire 100% of AvenAo Industrie’s share capital with payment in the form of 50% in shares and 50% in cash. A cash earn-out will account for 20% of the total deal.
As part of the deal Sébastien Vercruysse, the founder of AvenAo Industrie, will join Prodways Group management. Vercruysse explained, “The foundation and development of the AvenAo group has been a wonderful entrepreneurial adventure.”
The venture is also intended to harness a key area gaining momentum in 2017, Industry 4.0. As Vercruysse explains, “Participating in the development of an international leader of the Industry 4.0 revolution is even more exciting and I am proud to commit to this project over the long term. Clients, collaborators and partners will continue to rely on our support.”
Industry 4.0 brings together automation of manufacturing technology and data exchange systems. For example, the Internet of things, cloud computing and machine learning can be combined to create what is frequently described as a smart factory.
Several enterprises in the 3D printing industry are currently working on similar projects. For example EOS recently opened their NextGenAM 3D printing powered smart factory in partnership with Premium AEROTEC and Daimler.
Siemens are also a key drivers of the vision to bring on-demand product design and 3D printing production to the global manufacturing industry.
Helping customers make their digital transformation
Speaking about the acquisition Raphaël Gorgé, Chairman and Chief Executive Officer of Prodways Group, Raphaël Gorgé said, “In combination with our industrial 3D printing technologies, the acquisition of AvenAo Industrie represents a powerful accelerator for our commercial development and an extension of what we can offer our customers.” The CEO added,
“Applying Dassault Systèmes technologies to Prodways Group’s major business lines, as well as the expertise we have acquired in 3D integration and design, is going to increase our ability to help our customers make their digital transformation, whether in aeronautics, healthcare or other industrial sectors.”
The acquisition of AvenAo Industrie is expected to contribute at least €10 million to Prodways group revenue in 2018.
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Featured image shows Manufacturing inside one of AvenAo’s facilities. Photo via AvenAo
