GE, the digital industrial company, has reached an agreement to acquire a 75% stake in Concept Laser GmbH for USD 599M (EUR 549M). The agreement allows for GE to take full ownership in a number of years.
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 jewelry. Concept Laser’s machine range incorporates both the largest and smallest build envelopes currently available on the market and 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 aluminum.
“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 will continue as CEO of Concept Laser and will also assume a senior leadership position within GE. GE will retain Concept Laser’s management and employees. In addition, the close partnership that exists between Concept Laser and Hofmann Tool Manufacturing will continue. Concept Laser sets the stage for GE to sell additive manufacturing equipment across several industries.