Prodways Group expands 3D printing offering with acquisition of AvenAo Industrie
French 3D printing company Prodways Group has announced the acquisition of AvenAo Industrie, a France-based supplier of industrial equipment with a broad specialization, including 3D design and 3D printing technologies. Notably, AvenAo Industrie is a part of AvenAo Group, one of the largest distributors of Dassault Systèmes’ SOLIDWORKS platform and one of the biggest distributors of 3D Systems products in Europe.
The acquisition marks the first significant takeover by Prodways Group since its IPO earlier this year, through which it raised over €50 million. As the 3D printing subsidiary of Groupe Gorgé, Prodways is seeking to accelerate its commercial development as well as its industrial 3D printing offering.
The acquisition of AvenAo Industrie will reportedly enable it to strengthen its end-to-end 3D printing solutions, covering the early design stages of 3D printed parts through to their physical manufacturing.
AvenAo Group was founded in 2002 by Sébastien and Lenny Vercruysse and has become recognized in many areas of the industrial equipment sector. With expertise in the fields of design (CAD, PDM, simulation, etc.), production management, and manufacturing (3D printing, 3D scanning, simulation, topological optimization), AvenAo Group has made its mark on the French and wider European manufacturing market.
AvenAo Industrie, for its part, specializes in the integration of 3D SOLIDWORKS, a suite of design applications developed by Dassault Systèmes. With 75 employees running AvenAo Industrie’s operations, the company offers consulting services for the adoption of 3D design and 3D printing technologies, as well as manages problems that occur in the process.
“Combined with our industrial 3D printing technologies, the acquisition of AvenAo Industrie represents a tremendous acceleration of our commercial development and reinforces our offer for the benefit of our customers,” said Raphaël Gorgé, Chairman and CEO of Groupe Gorgé. “The application to Prodways Group’s core businesses, which include Dassault Systèmes’ technologies and expertise in 3D integration and design, will strengthen our ability to support the digital transformation of our customers, whether in the aeronautic, medical, or other industrial sectors.”
The acquisition agreement saw Prodways Group enter into exclusive negotiations for buying 100% of AvenAo Industrie’s shares. Though the sale amount was not divulged, Prodways is said to be paying 50% of the cost in securities and the other 50% in cash. A cash price supplement of about 20% of the total acquisition cost will be paid in 2019. Prodways Group expects that AvenAo Industrie will contribute to its profits significantly, with sales of at least 10 million euros expected in 2018.
“The creation and development of the AvenAo Group was a tremendous entrepreneurial venture,” explained AvenAo Industrie founder Sébastien Vercruysse, who will be taking up a management position at Prodways Group. “Participating in the development of an international industry 4.0 leader is an even more exciting project for which I am proud to be a long-term partner. Customers, employees, and partners can continue to count on our commitment to them.”
The acquisition also marks the strengthening of the partnership between Prodways Group and Dassault Systèmes, the former of which will be offering both the SOLIDWORKS and 3DEXPERIENCE platforms to its clients.