RPS sold to NASDAQ-listed Stratasys
BCMS has advised RP Support Ltd (RPS), UK provider of industrial stereolithography 3D printers and solutions, on its sale to NASDAQ-listed Stratasys Ltd (NASDAQ: SSYS), a global leader in polymer 3D printing solutions.
Established in 2007, and based in Aylesbury, Buckinghamshire, RPS is a manufacturer of large-frame stereolithography machines for industrial 3D printing. The business services an international client base across the automotive, Formula 1, manufacturing and service bureau sectors.
“BCMS guided us and negotiated on our behalf with tact and proficiency – they became friends in the process” – David Storey and Steve Moran, RPS
RPS’ own-brand Neo® line of 3D printers feature dynamic laser beam technology that enables build accuracy, feature detail, and low variability across the full extent of a large build platform. As an open resin system, Neo products offer a wide range of properties such as chemical resistance, heat tolerance, flexibility, durability, and optical clarity. Its products can produce large parts up to 800 x 800 x 600 mm, providing a significant build area in a small footprint.
In addition, all Neo systems are Industry 4.0-ready, with Titanium™ control software that includes a camera, network connectivity, support remote diagnostics, and mid-build parameter customisation.
Deal rationale and insights
With 31 locations and 2000+ employees worldwide, Stratasys is a global player in the supply of innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. RPS’ complementary technology further expands Stratasys’ polymer suite of solutions across the product life cycle, from concept modelling to manufacturing. Stratasys will leverage its infrastructure to offer RPS’ Neo line of systems to the global market with an expanded set of applications.
“We believe RPS’ Neo products are superior relative to other solutions currently available in the market” – Stratasys CEO Yoav Zeif
Commenting on the deal, Stratasys CEO Yoav Zeif said: “As businesses accelerate their adoption of additive manufacturing, our goal is providing our global customers with the world’s best and most complete polymer 3D printing portfolio. We believe the Neo products are superior relative to other solutions currently available in the market due to an open choice in resins, low service requirements, and reliable and accurate builds with simple day-to-day operation. With access to our strong global channels and our innovative GrabCAD software, we will bring RPS’ innovative products to many more manufacturing organisations.”
RPS Director David Storey added: “We developed the Neo line to raise the industry standard for the next generation of large-frame industrial stereolithography 3D printers. I’m looking forward to continuing to develop this best-in-class technology with the Stratasys team as we bring our products to a broadened global audience.”
Commenting on BCMS’ role in the transaction, RPS Directors David Storey and Steve Moran said: “Our enormous thanks to BCMS for your efforts over the last year. From the initial marketing of the business, through to completion, John Pritchard and Andy Denny added significant value and guided us and negotiated on our behalf with tact and proficiency. They became friends to us during the process. Our solicitor commented that he has dealt with many M&A advisors through the years and John and Andy were one of the strongest teams he has dealt with: there for the long run, not just for a quick profit. A huge thank you to John and Andy and all at BCMS who delivered this deal for us.”
BCMS Assistant Director John Pritchard, who led the transaction on behalf of RPS, said: “As a business, RPS are in many ways our perfect client: an innovative UK company operating a dynamic, growing global sector. It has been a real pleasure working in partnership with David and Steve to secure this landmark transaction with a high-profile, forward-thinking international acquirer.
“It is worth adding that negotiations took place entirely against the backdrop of the Coronavirus pandemic, and this transaction confirms that even in challenging times, BCMS has the proven ability to deliver the best outcomes for our clients. It goes without saying that we wish all parties all the very best moving forward.”