Nano Dimension Acquires Essemtec AG

Nano Dimension Ltd. announced that it has signed and closed a definitive agreement to acquire Essemtec AG, based in Lucerne Canton, Switzerland.

Essemtec’s product portfolio is comprised of production equipment for placing and assembling electronic components on printed circuit boards (PCBs). They are a leader in adaptive highly flexible surface mount technology (SMT) pick-and-place equipment, sophisticated dispenser suitable for both high-speed and micro-dispensing, and intelligent production material storage and logistic system. Its products are equipped with a software package which makes extensive and efficient material management possible.

Essemtec’s equipment and software have been having impact with customers since their first machine was introduced. As their high-tech solution can be adjusted quickly and easily to meet wide ranging requirements, they are able to respond to all manner of customer needs, particularly in high-mix-low-volume production environment.

Essemtec’s revenue for the 12 months ended Dec. 31, 2020 was $17.2 million, with a  gross margin of 60%. In the eight months ending Aug. 31, 2021 revenue was $15.4 million. The backlog of signed purchase orders as of Sept. 17, 2021 was approximately $6.9 million.

Nano Dimension will pay Essemtec shareholders a total sum, in cash, ranging between $15.1 million to $24.8 million, with $15.1 million will be paid upon closing. An additional amount of up to $9.7 million will be paid over 14 months based on a pre-agreed performance-based formulas.

“It is an exciting combination of two leading technology leaders serving the PCB and wider electronic industry segments,” said Franz-Xaver Strueby, CEO of Essemtec. “The combination of Nano Dimension’s strength in the Americas with Essemtec’s strong presence in Europe will enhance both product lines. Additionally, I believe that the merger of the technologies will yield enormous influence and transformational momentum in the world of 3D printed electronics and assembly.”

“Essemtec’s scientists and engineers and other team members, all of whom joined Nano Dimension upon closing of this transaction, are leading experts and industry veterans in machine building, software, mechanical automation, and robotics,” added Yoav Stern, chairman and CEO of Nano Dimension.