It looks like some big changes at BigRep are underway.
BigRep is a rather complicated corporation. It’s composed of BigRep SE, which is listed on the Frankfurt stock exchange, and it owns BigRep GmbH, which is the operating company.
BigRep has had a series of financial challenges over the past couple of years, ever since they began public trading. Huge losses were reported, and the company attempted to refinance things in several ways.
It seems that none of that worked out very well. That’s because an announcement from the company said they intend to:
- Sell all of BigRep SE’s shares in BigRep GmbH to De Krassny GmbH, Koehler Invest GmbH, and HAGE Holding GmbH
- Liquidate BigRep SE
- Delist BigRep SE from the stock market
In other words, BigRep SE was unable to continue operating the company due to financial challenges, so they are selling it off to others.
De Krassny GmbH was a major shareholder in BigRep and had previously attempted to help with refinancing steps that ultimately did not work out. Koehler Invest GmbH is similar and also assisted with refinancing/restructuring steps.
HAGE Holding GmbH is interesting because some years ago BigRep actually acquired HAGE. Somehow over the restructuring events of the past few years, HAGE has become a major shareholder and lender to BigRep.
What does all this mean? BigRep, the original company, seems to be lost or about to disappear. But what about their large-format, high-temperature technology?
BigRep’s machines still have a legitimate niche in large-format polymer additive manufacturing, especially where users need meter-scale thermoplastic parts. But the liquidation plan suggests the company could no longer support that technology inside a listed growth-company structure.
The likely outcome is not a complete disappearance of BigRep’s tech, but instead a retreat: BigRep’s technology may continue under private ownership, with a narrower product focus and far less public visibility. I expect the new owners to rationalize the product line and focus the profitable parts on smaller niche applications.
Via BigRep (PDF) and Deutsche Börse
