#United States #Burlington #3D Printing #Desktop Metal #Anzu Partners

Desktop Metal to Execute Business Sale through Supervised Process

Desktop Metal, Inc., a manufacturing firm known for its advancements in production-volume technologies, has taken a significant step by announcing its intent to sell key divisions through a court-supervised process. This decision stems from the company's recent filing for Chapter 11 bankruptcy protection in Texas, intended to facilitate an organized sale while safeguarding its remaining assets.

The Sale Agreement and Its Implications

The company has entered into an agreement with Anzu Partners, an investment firm noted for its focus on clean tech and industrial technologies, for the purchase of its subsidiaries including ExOne GmbH, EnvisionTEC GmbH, ExOne KK, and AIDRO s.r.l. This sale is contingent upon court approval and standard closing conditions. The agreement highlights Desktop Metal's proactive approach to streamline operations and refocus its business strategy following mounting financial pressures.

This move is critical as it enables Desktop Metal to reassure its stakeholders — including employees, customers, and vendors — about future steps. The company intends to communicate directly with all affected parties in the days to come, ensuring transparency throughout this transitional phase.

Navigating Challenges with Expert Guidance

Desktop Metal is enlisting the expertise of several advisors throughout this process. Legal counsel will be provided by Pachulski Stang Ziehl Jones LLP, while FTI Consulting, Inc. will serve as the financial advisor, and Piper Sandler Co. will act as the investment banker. This robust advisory team is expected to navigate the complexities of the bankruptcy proceedings and facilitate a smooth sale process.

Innovating in Manufacturing

Founded with a vision to revolutionize manufacturing, Desktop Metal has established itself as a leader in Additive Manufacturing 2.0, a new era defined by on-demand, digital mass production capabilities. The company's technological innovations have enabled various sectors, including industrial and medical applications, to achieve substantial improvements in efficiency and cost-effectiveness.

Through its value-driven 3D printing technology, Desktop Metal enables manufacturers around the world to minimize waste, save time, and increase flexibility in their production methods. The initiative to sell parts of its business signals a call to adapt and evolve in response to the competitive landscape while focusing on maximizing value to its stakeholders.

Looking Towards the Future

Though the current situation poses several challenges, the company's leadership is optimistic about the potential outcomes. By aligning with Anzu Partners and focusing on core competencies, Desktop Metal aims to emerge from this restructuring phase as a more agile and efficient enterprise. In an ever-evolving market, adapting to changes is crucial for survival, and Desktop Metal appears committed to navigating these turbulent waters with strategic foresight.

In summary, Desktop Metal's recent developments underscore a pivotal moment in its journey, characterized by restructuring, strategic partnerships, and a commitment to innovation. The forthcoming weeks will be critical as the company communicates its plans and works diligently with its advisors to safeguard the future of its operations. As this narrative unfolds, the industry watches closely, hoping for a reinvigorated Desktop Metal that can continue to push the boundaries of manufacturing technology.