GE has reached an agreement to acquire a 75% stake in Concept Laser GmbH, a global supplier of additive manufacturing equipment, for $599 million. The agreement allows for GE to take full ownership in a number of years.
Privately-held Concept Laser has more than 200 employees and is headquartered in Lichtenfels, Germany, with significant operations in the United States, China, and a global network of more than 35 distributors and agents.
Concept Laser designs and manufacturers powder bed-based laser additive manufacturing machines. Its customer base is focused on the aerospace, medical and dental industries, with a meaningful presence in automotive and jewellery. Concept Laser’s machines are capable of processing various powder materials including titanium, nickel-base, cobalt-chromium and precious metal alloys, as well as hot-work and high-grade steels and aluminium.
“Concept Laser founder Frank Herzog and his team are true pioneers in metal laser melting technology,” said David Joyce, GE vice chairman and president & CEO of GE Aviation. “We are committed to enhancing Concept Laser’s technologies and product offerings across a well-established customer base.”
Herzog commented: “GE shares our vision regarding the potential for additive manufacturing to lead the digital transformation of industrial production. We are delighted that together we will be able to accelerate development of the technology to the benefit of our customers. We have some exciting new product offerings due to come to market, including our innovative AM Factory of Tomorrow modular concepts, and with GE’s support we will be at the centre of Industrie 4.0.”
Herzog will continue as CEO of Concept Laser and will also assume a senior leadership position within GE.In order to support the growth potential of the business, GE has committed to invest significantly into Lichtenfels, which will continue to be Concept Laser’s headquarters.
Mr. and Mrs. Herzog founded Concept Laser in 2000 and commercialized the first metal additive manufacturing machine in 2001. Over the past 16 years, Concept Laser has industrialized the technology with its patented LaserCUSING process and remains at the forefront of the industry.
“Concept Laser machines are being used by leading manufacturers of medical, aerospace and dental components in series production as well as for prototyping and design. We are hitting an inflection point in demand as customers increasingly understand the possibilities that additive manufacturing presents and the technology advances to be able to turn these possibilities into reality. With GE’s broader investment into additive manufacturing, we believe that this process will only accelerate,” said Herzog.
