Two overseas subsidiaries of ExOne Co. have been sold to a private-equity investor, following a U.S. Bankruptcy Court approval of Desktop Metal’s sale agreement with Anzu Partners. The value of the transaction has not been announced.
The two subsidiaries are ExOne GmbH in Germany and ExOne KK in Japan.
Anzu Partners, which invests in “clean tech, industrial, and life science technology companies,” announced the purchase but did not mention two other Desktop Metal subsidiaries included in the sale agreement: EnvisionTEC GmbH and AIDRO s.r.l.
Late last year Anzu Partners agreed to acquire voxeljet AG, a supplier of sand 3D-printing technologies like ExOne, but voxeljet shareholders rejected that deal. Now, voxeljet is undergoing reorganization through Germany’s “Stabilization and Restructuring of Enterprises” process.
ExOne is a developer of binder-jet additive manufacturing systems and materials, particularly focused on sand printing technologies for molds and cores. The business was acquired for a reported $575 million in 2021 by Desktop Metal, another additive manufacturing business.
According to the buyer, the purchase will ensure stability and consistency in operations for customers, suppliers, and employees. Following the court's approval, which was granted without objection and is not expected to be subject to any appeals, the parties will now begin implementing the transaction.
The management teams at ExOne GmbH and ExOne KK remain in place.
Desktop Metal entered into the sale agreement in conjunction with its bankruptcy filing last month, explaining that the creditor protection would allow it to “implement the sale and protect the business while it markets its remaining assets.”