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Nexa3D: Essentium Acquisition
Nexa3D has announced the successful acquisition of Essentium, a manufacturer of high-speed extrusion (HSE) 3D printers and materials, after it signed a letter of intent to acquire the company in November 2023. Nexa3D says the acquisition broadens capabilities, adds super polymer expertise, and democratises access to industrial, health, and government customers.
Nexa3D says the acquisition broadens its additive manufacturing capabilities, adds super polymer expertise, and democratises access to industrial, health and government customers.
Essentium, known for its high-speed extrusion 3D printers, and independent dual extruders (IDEX), has established itself in the industry by providing solutions for complex polymer production applications according to Nexa.
“We are honoured and thrilled to welcome the talented Essentium team to Nexa3D,” said Avi Reichental, Co-Founder, Chairman, and CEO of Nexa3D. “This acquisition is more than a strategic move; it’s a testament to our shared vision to drive innovation and deliver solutions that redefine the production capabilities of 3D printing.”
Dr. Blake Teipel, Co-Founder and CEO of Essentium said: “We are excited to join forces with Nexa3D. Essentium and Nexa3D share a vision of empowering manufacturers to create what was once considered impossible. Our combination enables us to offer game-changing 3D printing solutions for our defense, health, and industrial customers. We are blown away by the growth, technology, and delivery velocity underpinning Nexa3D, and excited to be the force multiplier that takes our combined enterprise to its true potential.”
Dr. Teipel has been appointed to the position of Chief Strategy Officer, Nexa3D. in this role, Teipel will deploy his experience in product development and deployment, working with the executive leadership team to formulate, facilitate, and communicate Nexa3D’s strategic initiatives and lead implementation efforts across the organisation according to the company.
Dr. Elisa Teipel has been appointed to the role of Chief Government Officer, Nexa3D. In this position, Teipel will lead all of Nexa3D’s government business activities, including all special government projects and commercial activities, leveraging her domain experience and deep relationships says Nexa3D.
Kelly Spivey has been appointed to the role of Chief Financial Officer, Nexa3D. In this role, Spivey will work closely with the senior leadership team to oversee the combined business finance, accounting, and information technology relying on her operational and audit experience.
Esssentium will begin operating as Essentium, a Nexa3D company, immediately, and plans to transition fully to the Nexa3D brand at a later date.
Disrupting the market in a profound way
Nexa3D’s acquisition of Essentium is set to foster a robust alliance to redefine the industrial 3D printing sphere. This collaboration creates a formidable suite of production technologies beneficial to a spectrum of industries.
Avi Reichental, Nexa3D’s Co-founder, Chairman, and CEO, expressed enthusiasm about the acquisition, stating, “This acquisition will be a testament to our unwavering commitment to pushing the boundaries of 3D printing technology. By joining forces with Essentium, we aim to create synergies that will deliver unmatched value to our customers.” The partnership aims to blend Nexa3D’s expansive market reach, underscored by over 120 worldwide resellers, with Essentium’s pioneering high-speed extrusion technology, equipping industrial clientele with essential tools to escalate additive manufacturing and unlock novel production vistas. “Together, we will drive ultrafast additive manufacturing innovation and provide even more powerful solutions for manufacturers seeking to achieve their production goals,” added Reichental.
Essentium CEO, Blake Teipel, mirrored this sentiment, noting, “We believe that our joint expertise will disrupt the industrial 3D printing market in a profound way. Nexa3D and Essentium share a vision of empowering manufacturers to create what was once considered impossible. Our alignment will enable us to offer game-changing 3D printing solutions for our clients. When we considered potential combination partners from around the industry, we were blown away by the growth, technology, and delivery velocity underpinning Nexa3D. We feel we are joining a team of fast-movers, similar in mindset to our own, and we look forward to enabling greater adoption of industrial AM together for years into the future. “
The acquisition, awaiting standard shareholder and regulatory nod, is anticipated to be finalized by year-end or shortly thereafter, with both entities devoted to ensuring a seamless transition and sustained service delivery to existing and potential customers.
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