Lenbach Equity Opportunities III (LEO III) acquires TRUMPF’s metal AM business

Lenbach Equity Opportunities III. GmbH & Co. KG (“LEO III Fund”), a private equity fund advised by the DUBAG Group and specializing in corporate carve-outs, has signed an agreement with TRUMPF to acquire its Additive Manufacturing business. This includes Laser Metal Fusion (LMF) and Powder Bed Fusion (PBF/LPBF) technologies. The divestiture (the second from the 3D printing sector in the company’s history) aligns with TRUMPF’s strategic decision to focus on its core industrial operations. Pawel Sluzarczyk first reported the story in his 3DP War Journal, where he also delves into great depth into the reasons that led TRUMPF to divest again from AM. DUBAG also issued a press release to confirm the agreement.

Sebastian Stalter, Director at the DUBAG Group, stated: “We are honored to have gained the trust of a family-owned, high-tech company like TRUMPF and to have been chosen as a partner through a competitive M&A process. We look forward to collaborating with the management and teams in Schio, Ditzingen, and Plymouth to build a leading, innovative solution provider in metallic 3D printing.”

Strategic re-realignment

The new entity will operate from Schio, Italy, which already serves as the development and production hub for the 3D printing business. All employees currently assigned to this division in Schio (Italy), Ditzingen (Germany), and Plymouth (USA) will transition to the new organization as part of the business transfer. During a transitional phase, the “TRUMPF” and “TruPrint” brands will continue to be used. A new company name and independent brand identity will be introduced gradually once the transaction is finalized.

Matthias Himmelsbach, Managing Director of Additive Manufacturing at TRUMPF, added: “We welcome the LEO III Fund, advised by the DUBAG Group, as the new owner of our Additive Manufacturing business. With DUBAG, we have found a partner who can help us focus our product and consulting offerings, unlock growth potential, and guide the business into a sustainable future.”

Over the past few years, TRUMPF’s PBF systems have emerged as some of the most reliable and efficient; however, the company has not sufficiently supported this business with productive marketing, demonstrating limited interest in AM as a revenue generation opportunity, even after an initial phase of enthusiasm. Despite having both PBF and DED systems in its portfolio, TRUMPF never made it into the top-selling metal hardware companies, according to data from VoxelMatters’ Metal AM Market reports. Now, competition is increasing, and TRUMPF had to choose between significantly scaling up its investments or refocusing on its core business; it chose the latter. Hopefully, the new company will be able to focus on 3D printing with a leaner and more dedicated structure.

Spinning around

TRUMPF’s history in 3D printing is complex. It was one of the very first companies to introduce an industrial metal PBF 3D printer; however, the company exited the market shortly thereafter as demand was not yet strong enough. TRUMPF re-entered the market in the mid-2010s by forming a joint venture with the Italian company SISMA (based in Schio), which had developed the Laser Metal Fusion (LMF) PBF process. TRUMPF then spun out its own business again, separating from SISMA while maintaining a collaboration, especially in the jewelry segment. Now, SISMA’s original base in Schio will represent the headquarters of the newly formed company.

The newly formed group is set to become a leading global provider of advanced metallic 3D printing solutions. It will emphasize the development, production, implementation, and sales of complete 3D printing systems, offering more than just machine delivery. The carve-out will also streamline internal structures and processes, enhancing responsiveness to global customer demands.

Customers will gain access to not only state-of-the-art equipment but also extensive consulting services, process development, automation solutions, and integration concepts that span the entire value chain. Special attention will be given to the specific needs of OEMs and suppliers in the aerospace and medical technology sectors, as well as specialized contract manufacturers focused on high-volume industrial series production. The company’s future market strategy targets key sectors including aerospace, medical technology, dental, and general industry.

The transaction remains subject to approval by the relevant authorities and the fulfillment of all contractually agreed conditions.