GE Agrees to Acquire Stake in Concept Laser

The deal allows for GE to take full ownership of Concept Laser in the future.

Digital industrial company GE has reached an agreement to acquire a 75 percent stake in Concept Laser GmbH for $599 million. The agreement allows for GE to take full ownership in a number of years.

Concept Laser is privately owned and headquartered in Lichtenfels, Germany, with operations in the United States and China as well as a global netowrk of more than 35 distributors and agents.The company designs and manufactuers powder bed-based laser additive manufacturing machines which utilize its LaserCusing technology. 

Concept Laser founder Frank 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 center 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 and will become a new German center for 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. 

This news comes after GE abandoned its bid for SLM Solutions, announced earlier this year. 

Related: