SEATTLE, January 25, 2022 /PRNewswire/ — STS Capital Partners General manager Shamil Hargovan led the team that assisted Wohlers Associates in its sale to ASTM International, announced at the recent Standards Forum at the Formnext conference in Frankfurt, Germany. Terry Wohlers and his company are internationally recognized as experts in 3D printing and additive manufacturing (AM).
ASTM International is a leading global standards organization that develops and publishes voluntary consensus technical standards for a wide range of materials, products, systems and services.
Making the announcement, Wohlers said: “Thank you to STS Capital Partners. This company helped put that together. Without Shamil and the team, we wouldn’t be here right now.”
He added: “The people there (at STS) really took the bull by the horns and did a great job of discovering many candidate organizations, many of which were a good fit for our business. downsized and started negotiating with a few of them.”
The sale of Wohlers Associates to ASTM is a testament to the importance that 3D printing will have in the future of manufacturing, giving ASTM a significantly enhanced ability to set standards for this rapidly emerging technology.
“We were pleased to provide the expertise that enabled this extraordinary exit to happen, resulting in great benefits for both parties,” Hargovan said. “Wohlers Associates was able to achieve the required and preferred results in the sale, but more importantly, we reached out to a wide range of possible non-traditional acquisition partners and secured an ideal home that plans to build on their great heritage. in this rapidly growing industry.
As a result of this experience with Wohlers Associates, we have identified a range of companies in the AM industry that are able, willing and interested in acquiring strategically valuable assets for their businesses. We’re happy to hear from business owners who want to explore the many opportunities available to them to realize extraordinary returns when they exit and sell their business.”
Along with Wohlers Associates, ASTM International acquires the Wohlers Report, the premier publication for the AM industry, as well as briefing notes, expert reports, AM design training and consulting services.
“We are delighted to welcome Wohlers Associates to the ASTM family,” Catherine Morgansaid the president of ASTM International in an announcement sent from ASTM headquarters to West Conshohocken, Pennsylvania. “Wohlers has been a trusted source of news and analysis for the AM community for over 30 years, and I’m excited to see what our two trusted and credible brands can accomplish together for this industry.”
Formnext is the premier additive manufacturing and 3D printing conference, attracting over 8,000 attendees from around the world who are leaders in their technology and business markets.
At the conference, Hargovan spoke about the M&A trend in the industry during a panel he moderated with Wohlers and Brian Meinckevice president of global business development and innovation strategy at ASTM International.
He explained that at STS “our massive transformation goal is to generate billions in new philanthropic and impact capital through mergers and acquisitions.” As Managing Director of STS Capital Partners, Hargovan co-chairs STS’ “Success to Significance™” pillar, which focuses on social impact and maximizing true legacy potential. He is also CEO of Altruvest Charitable Services. , a global non-profit organization affiliated with STS , which provides leadership, training and tools to improve the governance of community charities.
Hargovan is a featured speaker and thought leader in the areas of Industry 4.0, mixed physical and digital experiences, augmented reality, and the future of retail and e-commerce. In 2016, he was named a Forbes 30 Under 30 In Manufacturing and Industry winner – and again in 2017 on the Forbes 30 Under 30 All-Star list. He was also featured as one of “50 Emerging Global Entrepreneurs to Watch” by Inc. Magazine.
Prior to joining STS, Hargovan co-founded Wiivv Wearables and, as CEO, grew the company into one of the world’s largest providers of custom 3D printed footwear. He has led award-winning business experience and led business partnerships with international governments and sports, athletics and wellness brands including Dr. Scholl’s and Lululemon. Wiivv pioneered state-of-the-art digital manufacturing in the United States and Canada based on measurements captured from a smartphone or retail scanner. In 2020, Hargovan divested its stake to a private strategic capital group.
Hargovan spent several years at HP Inc. on the leadership team defining the company’s additive manufacturing strategy, which ultimately led to the creation of its 3D printing business unit. He also managed several highly profitable product lines, while leading major cross-functional customer experience and business transformation initiatives across the $60 billion global printing and personal systems business. Prior to working at HP, he was a management consultant at Clarkston Consulting. He began his career at SRI International (formerly Stanford Research Institute), incubating new ventures and strategic programs.
Hargovan holds a BA in Philosophy, Politics and Economics (PPE) from Claremont McKenna College. His volunteer experience includes serving on the boards of non-profit organizations and other community work, which has been recognized by Rotary International with Paul Harris Fellowships for his contributions to international service. He lived in North America, Africa and Australiacurrently residing at Seattle, Washington.with his family.
STS Capital Partners is a different type of global M&A firm creating billions of dollars in new philanthropic and impact capital. STS stands for Success to Significance™ through Selling to Strategics™.
STS expertly guides business owners to extraordinary exits with a focus on supporting their legacy.
STS’s global relationships and world-class team bring international strategic buyers to the transaction process. This results in highly competitive multi-bidder soft auctions that achieve maximum value. To learn more about STS, please visit www.stscapital.com.
STS also expands globally and recruits talented people who share a passion for enabling extraordinary releases. To learn more, please visit www.stscapital.com/join-our-team/.
Contact: Alain Hermesch(202) 210-6262, [email protected]
Press release issued by PR Log
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