Stratasys Announces $120 Million Equity Investment from Fortissimo Capital
Stratasys (NASDAQ: SSYS) has announced a significant $120 million equity investment from Fortissimo Capital, a leading Israeli private equity fund. The investment involves the purchase of 11,650,485 newly issued ordinary shares at $10.30 per share, representing a 10.6% premium over the January 31, 2025 closing price.
Following the transaction, Fortissimo will increase its stake from 1.5% to approximately 15.5% of Stratasys' outstanding shares. The deal includes an 18-month lock-up period and standstill provisions. Fortissimo's Founding Partner, Yuval Cohen, will join Stratasys' Board of Directors upon closing, expected in Q2 2025.
The investment aims to strengthen Stratasys' balance sheet, support growth strategy execution, and capture opportunities in the additive manufacturing industry. Fortissimo can acquire up to 24.99% of shares but is to 20% voting power, with provisions for conducting a tender offer subject to shareholder approval.
Stratasys (NASDAQ: SSYS) ha annunciato un significativo investimento in equity di 120 milioni di dollari da parte di Fortissimo Capital, un fondo di private equity israeliano leader nel settore. L'investimento prevede l'acquisto di 11.650.485 azioni ordinarie appena emesse al prezzo di 10,30 dollari per azione, che rappresenta un premio del 10,6% rispetto al prezzo di chiusura del 31 gennaio 2025.
A seguito della transazione, Fortissimo aumenterà la sua partecipazione dall'1,5% a circa il 15,5% delle azioni in circolazione di Stratasys. L'accordo include un periodo di lock-up di 18 mesi e disposizioni di standstill. Il socio fondatore di Fortissimo, Yuval Cohen, si unirà al Consiglio di Amministrazione di Stratasys al termine della chiusura, prevista per il secondo trimestre del 2025.
L'investimento mira a rafforzare il bilancio di Stratasys, sostenere l'esecuzione della strategia di crescita e cogliere opportunità nel settore della produzione additiva. Fortissimo può acquisire fino al 24,99% delle azioni, ma sarà limitato al 20% dei diritti di voto, con disposizioni per avviare un'offerta pubblica soggetta all'approvazione degli azionisti.
Stratasys (NASDAQ: SSYS) ha anunciado una importante inversión de 120 millones de dólares en acciones por parte de Fortissimo Capital, un destacado fondo de capital privado israelí. La inversión incluye la compra de 11.650.485 acciones ordinarias recién emitidas a 10,30 dólares por acción, lo que representa una prima del 10,6% sobre el precio de cierre del 31 de enero de 2025.
Tras la transacción, Fortissimo aumentará su participación del 1,5% a aproximadamente el 15,5% de las acciones en circulación de Stratasys. El acuerdo incluye un período de bloqueo de 18 meses y disposiciones de pausa. Yuval Cohen, socio fundador de Fortissimo, se unirá a la Junta Directiva de Stratasys después del cierre, previsto para el segundo trimestre de 2025.
La inversión tiene como objetivo fortalecer el balance de Stratasys, apoyar la ejecución de la estrategia de crecimiento y aprovechar las oportunidades en la industria de la fabricación aditiva. Fortissimo puede adquirir hasta el 24,99% de las acciones, pero se limitará al 20% de los derechos de voto, con disposiciones para llevar a cabo una oferta pública sujeta a la aprobación de los accionistas.
Stratasys (NASDAQ: SSYS)는 이스라엘의 주요 사모펀드인 Fortissimo Capital로부터 1억 2천만 달러의 중요한 주식 투자를 발표했습니다. 이 투자는 1,165만 48개의 새로 발행된 보통주를 주당 10.30달러에 구매하는 것으로, 2025년 1월 31일 마감 가격에 비해 10.6%의 프리미엄을 나타냅니다.
거래 후 Fortissimo는 Stratasys의 미발행 주식에서 지분을 1.5%에서 약 15.5%로 증가시킬 것입니다. 이 거래에는 18개월의 락업 기간과 정지 조항이 포함되어 있습니다. Fortissimo의 창립 파트너인 Yuval Cohen은 2025년 2분기 예상 마감 시 Stratasys의 이사회에 합류할 것입니다.
이번 투자는 Stratasys의 재무 구조를 강화하고 성장 전략을 지원하며 적층 제조 산업에서 기회를 포착하기 위한 것입니다. Fortissimo는 최대 24.99%의 주식을 인수할 수 있지만 투표권은 20%로 제한되며, 주주 승인을 받는 조건으로 공모를 실시하는 조항이 있습니다.
Stratasys (NASDAQ: SSYS) a annoncé un investissement en actions significatif de 120 millions de dollars de Fortissimo Capital, un fonds de capital-investissement israélien de premier plan. Cet investissement implique l'achat de 11.650.485 actions ordinaires nouvellement émises à 10,30 dollars par action, représentant une prime de 10,6% par rapport au prix de clôture du 31 janvier 2025.
À la suite de la transaction, Fortissimo augmentera sa participation de 1,5% à environ 15,5% des actions en circulation de Stratasys. L'accord comprend une période de blocage de 18 mois et des dispositions de standstill. Yuval Cohen, le partenaire fondateur de Fortissimo, rejoindra le conseil d'administration de Stratasys après la clôture, prévue pour le deuxième trimestre de 2025.
Cette investissement vise à renforcer le bilan de Stratasys, soutenir l'exécution de la stratégie de croissance et saisir les opportunités dans l'industrie de la fabrication additive. Fortissimo peut acquérir jusqu'à 24,99% des actions, mais est limité à 20% des droits de vote, avec des dispositions pour réaliser une offre publique sous réserve de l'approbation des actionnaires.
Stratasys (NASDAQ: SSYS) hat eine bedeutende Eigenkapitalinvestition in Höhe von 120 Millionen Dollar von Fortissimo Capital, einem führenden israelischen Private-Equity-Fonds, angekündigt. Die Investition umfasst den Kauf von 11.650.485 neu ausgegebenen Stammaktien zu einem Preis von 10,30 Dollar pro Aktie, was eine Prämie von 10,6% gegenüber dem Schlusskurs vom 31. Januar 2025 darstellt.
Nach der Transaktion wird Fortissimo seinen Anteil von 1,5% auf etwa 15,5% der ausstehenden Aktien von Stratasys erhöhen. Der Deal beinhaltet eine Lock-up-Periode von 18 Monaten und Standstill-Bestimmungen. Yuval Cohen, der Gründungspartner von Fortissimo, wird nach dem Abschluss, der im 2. Quartal 2025 erwartet wird, dem Vorstand von Stratasys beitreten.
Die Investition zielt darauf ab, die Bilanz von Stratasys zu stärken, die Umsetzung der Wachstumsstrategie zu unterstützen und Chancen in der additiven Fertigungsindustrie zu nutzen. Fortissimo kann bis zu 24,99% der Aktien erwerben, ist aber auf 20% Stimmrecht beschränkt, mit Bestimmungen zur Durchführung eines Übernahmeangebots, das der Zustimmung der Aktionäre unterliegt.
- Secured $120 million equity investment at 10.6% premium to market price
- Strategic partnership with experienced technology investor
- Strengthened balance sheet for future growth opportunities
- Addition of experienced board member with financial expertise
- 15.5% ownership concentration in single investor may affect governance
- Potential share dilution from new share issuance
- Transaction subject to CFIUS review, adding closing uncertainty
Insights
The
Premium Valuation Analysis: The
Strategic Implications: The investment substantially strengthens Stratasys' balance sheet, providing important capital for potential M&A activities in the consolidating additive manufacturing sector. The agreement's structure, allowing Fortissimo to increase ownership up to
Governance Framework: The sophisticated standstill provisions, including the potential for additional board representation at
Market Position Enhancement: Beyond the immediate capital injection, this deal enhances Stratasys' competitive position in the 3D printing industry. The partnership with Fortissimo, known for its technology and industrial expertise, could accelerate Stratasys' strategic initiatives and market expansion efforts.
Strategic Investment Structure: The deal architecture reveals a thoughtfully crafted investment thesis that aligns with private equity best practices. The tiered ownership rights (
Value Creation Pathway: Fortissimo's approach suggests a clear value creation strategy:
- Immediate strengthening of Stratasys' market position through capital injection
- Potential for strategic acquisitions in the fragmented 3D printing market
- Governance influence through board representation to drive operational improvements
Exit Flexibility: The agreement's provisions for potential tender offers and additional share acquisitions provide Fortissimo with multiple paths to enhance returns while ensuring proper shareholder protections through unaffiliated shareholder voting requirements.
Industry Consolidation Play: This investment positions Stratasys as a potential consolidator in the additive manufacturing space, with enhanced financial capabilities and strategic support from an experienced technology investor. The structure suggests a long-term approach to value creation rather than short-term financial engineering.
Transaction at a Premium Underscores Leading Position in the Additive Manufacturing Industry and Positions Stratasys to Drive Growth
Strengthens Balance Sheet to Capture Market Opportunities
Fortissimo’s Founding and Managing Partner, Yuval Cohen, to Join the Stratasys Board
Fortissimo is investing in Stratasys with a long-term commitment at a premium valuation. Stratasys expects this partnership to enhance shareholder value, support the continued execution of Stratasys’ strategy to drive growth and further strengthen the Company’s balance sheet as it seeks to capture inorganic value-creation opportunities in the additive manufacturing industry.
“Fortissimo’s investment underscores confidence in our leadership and performance, our ability to deliver solutions that solve customer needs and our long-term growth potential,” said Dr. Yoav Zeif, Director and Chief Executive Officer of Stratasys. “Fortissimo is an experienced private equity investor with a growth focus, deep understanding of our business and a proven track record of investment in private and public technology companies. We are excited to partner with Fortissimo and believe their meaningful investment and partnership-oriented approach will enable us to drive additional long-term value for all shareholders.”
In connection with this investment, Yuval Cohen, Founding and Managing Partner of Fortissimo, will be appointed to the Stratasys Board of Directors at the closing of the transaction, replacing a Stratasys director to be named at that time. Mr. Cohen brings more than 30 years of financial and leadership experience working closely with companies on achieving strategic goals through innovative approaches.
“We believe in the future of additive manufacturing and are confident in Stratasys’ leading role in shaping the industry. We have long respected their history of solving customers’ critical manufacturing challenges and are confident they exemplify the necessary and strategic approach to fulfill the potential of 3D printing,” said Mr. Cohen. “We look forward to being a part of Stratasys’ next chapter as we collaborate with its strong management team to build on the Company’s fundamental strengths to the benefit of the Company’s stakeholders.”
Investment Details
The parties expect the transaction to close during the second quarter of 2025, subject to review by the Committee on Foreign Investment in
In connection with the transaction, Stratasys’ Board will exempt Fortissimo from Stratasys’ limited duration shareholder rights plan and Fortissimo will be subject to certain standstill undertakings, including that: (a) Fortissimo has the right to acquire up to
In the event Fortissimo holds
With the exception of Fortissimo, the existing terms of the limited duration shareholder rights plan remain the same for all Stratasys shareholders. The rights generally will become exercisable only if an entity, person or group acquires beneficial ownership of
Advisors
Meitar | Law Offices is acting as legal counsel to Stratasys. Gornitzky & Co. is acting as legal counsel to Fortissimo Capital.
About Stratasys
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the Stratasys blog, X/Twitter, LinkedIn, or Facebook. Stratasys reserves the right to utilize any of the foregoing social media platforms, including Stratasys’ websites, to share material, non-public information pursuant to the SEC’s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.
About Fortissimo Capital
Fortissimo Capital (www.ffcapital.com) is a leading private equity fund in
Some of Fortissimo’s notable investments in the digital printing arena have included: Kornit Digital, Diptech and Nur Macroprinters.
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Stratasys
Media and Investor Contacts
Stratasys Corporate,
Erik Snider
Erik.Snider@stratasys.com
+972 74 745 6053
Ed Trissel / Joseph Sala / Kara Brickman
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
Investor Relations
Yonah Lloyd
Yonah.Lloyd@stratasys.com
+972 74 745 4919
Fortissimo Capital
Marc Lesnick
marc@ffcapital.com
+972 3-915-7466
Source: Stratasys Ltd.
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