November 8, 2021
ESSEMTEC’s product portfolio is comprised of production equipment for placing and assembling electronic components on printed circuit boards (PCBs). They develop adaptive flexible surface mount technology (SMT) pick-and-place equipment, dispenser suitable for high-speed and micro-dispensing, and intelligent production material storage and logistic system. Its products are equipped with a software package that makes efficient material management possible.
ESSEMTEC’s equipment and software can be adjusted quickly to meet wide ranging requirements. Their portfolio of products will continue to be available to the customers of ESSEMTEC and now Nano Dimension.
ESSEMTEC financial highlights:
- 12 months ended 12/31/2020 revenue was $17.2 million; gross margin was 60%
- 8 months ended in 08/31/2021 revenue was $15.4 million; gross margin was 60%
- Backlog (signed purchase orders) as of 09/17/2021 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.
- $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.
“The combination of Nano Dimension’s strength in the Americas with ESSEMTEC’s strong presence in Europe will enhance both product lines,” says Franz-Xaver Strueby, chief executive officer of ESSEMTEC.
“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,” says Yoav Stern, chairman and chief executive officer of Nano Dimension. “They are going to continue to be led by their present management crew, supported by Ziki Peled, COO of Nano Dimension.”
Sources: Press materials received from the company and additional information gleaned from the company’s website.