Prodways Group (Euronext Paris: PWG), a specialist in industrial 3D printing, announces the signature of an agreement to acquire a 75% stake in Interson-Protac, a leading French company that makes ear tips for hearing aids and customised hearing protectors.
Interson-Protac, which is based in Congénies, Gard, France, has been a major player in the field of audiology for more than 40 years. The company supplies hearing aid makers and manufacturers with ear tips for hearing aids and customised hearing protectors that are custom made based on impressions of the user's ear canal.
Remy Garrel and François Rey, the current senior executives, will retain their positions and 25% of the share capital of the company, which has 47 employees. This profitable business is expected to contribute at least €4 million to Prodways Group's revenues in 2018.
Interson-Protac currently uses 3D printing for 20% of its production, and its integration into Prodways Group will give it access to the most high-performance technologies so it can increase this proportion. Like the prostheses developed by Prodways Group in the dental and podiatry sectors, audiology is being revolutionised by 3D printing. For all these medical applications, additive manufacturing is replacing long, costly manual customisation processes while offering better precision and higher-quality prostheses.
This acquisition strengthens the medical segment, which is a major growth area in the Products division. The integration into Prodways Group will give Interson-Protac an opportunity to further migrate toward 3D printing and accelerate its expansion, particularly on the buoyant market of customised hearing protection.
The transaction is expected to be finalised within a month.
Second acquisition transaction since initial public offering
The acquisition of Interson-Protac follows the acquisition of AvenAo Industrie, an expert in integrating 3D design and development applications. This acquisition, which was announced on 1 August (see press release), will enhance the Group's Systems division.
AvenAo Industrie turned a profit in 2016 and is projected to contribute at least €10 million to Prodways Group's revenues in 2018.
The transaction is expected to be finalised in October 2017.
Next key date:
Half-year results released on 11 September 2017
About Prodways Group
PRODWAYS GROUP is a specialist in industrial and professional 3D printing with a unique positioning as an integrated European player. The group has developed right across the 3D printing value chain (machines, materials, parts & services) with a high value added technological industrial solution. PRODWAYS GROUP offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The company also manufactures and markets parts on demand, prototypes and small production run 3D printed items in plastic and metal (PRODUCTS division). The Group targets a significant number of sectors, from aeronautics to healthcare.
In 2016, the company generated revenue of €25.2 million, including 58% outside of France. Building on revolutionary and proprietary technology, MOVINGLight®, PRODWAYS GROUP today has global visibility in the industrial 3D printing sector and with leading customers.
PRODWAYS GROUP is a Groupe Gorgé company.
For further information: www.prodways-group.com
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