2024-01-28 11:16:23
The Israeli 3D printing company Stratasys has come on the radar of a new investor: Fred (Farhead) Ebrahimi, an American billionaire of Iranian descent, who reported at the end of the week that he owns 5.1% of the company’s shares, which he owns together with his wife, Marie Wilki Ebrahimi. The market value of the shares is 47 million dollars.
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Ebrahimi made his fortune in the advertising software company Quark Software, which he was one of the founders of, and which was sold to a private equity fund in 2011. According to a report submitted by Ebrahimi to the SEC, the US Securities and Exchange Commission, he began purchasing Stratasys shares at the end of November 2023. The report on the holding is a report as an activist investor, but the report itself states that at this stage he has no plans regarding moves such as mergers and acquisitions, part sales from the assets or a change in the company’s management or board of directors.
It is interesting to note that Ebrahimi also owns shares in Desktop Metal, an American company in the field of 3D printing that Stratasys tried to merge with, but did not receive the shareholders’ approval for the move. He became interested in Desktop Metal about six months ago, after the company reported the merger with Stratasys; A report published on a website dealing with the 3D industry states that he supports the merger of the company with Stratasys. The merger fell through in September, and Ebrahimi, who recently purchased additional shares of Desktop Metal, now owns 15% of the company, which is valued at $206 million on the New York Stock Exchange.
Shares in the solar energy company First Solar and properties in Hawaii
Ebrahimi (85) of Denver, Colorado, immigrated to the US from Iran, and according to reports studied at MIT and UCLA (University of California) in the 1960s and 1970s. In 1986, he became CEO of Quark, a position he held for almost two decades. Together with his wife Marie, Ebrahimi has been engaged in philanthropy in recent years, and for example, it was reported that a few years ago they donated $410,000 to the Center for Near Eastern Studies at UCLA to establish a study program on the Iranian diaspora.
Ebrahimi also owns the shares of the solar energy company First Solar, which is traded at a value of 15.8 billion dollars. Ebrahimi invested in First Solar for the first time in 2018. The current value of his shares in the company reaches 806 million dollars. On top of that, he owns properties in Hawaii, among others in Royal Hawaiian Orchards, a company that grows and markets nuts. According to Forbes, Ebrahimi’s fortune is currently estimated at $1.2 billion.
Stratasys, managed by Dr. Yoav Zeif, focuses on the field of 3D printing of polymers, and is traded on Nasdaq at a value of 922 million dollars. Stratasys shares rose by 20% last year and weakened by 7% from the beginning of 2024. Last May Stratasys announced the merger with Desktop Metal, a stock deal that was supposed to produce a company worth 1.8 billion dollars, but in September it had to announce the failure of the merger, after which its shareholders opposed in accordance with the recommendations of the consulting companies for the institutional bodies, ISS and Glass Lewis. Following this, Stratasys announced that it would examine all available strategic alternatives.
Let’s recall that during 2023, the Israeli Nano Dimension also tried to take over Stratasys (and recently repeated its desire to acquire it), and the American 3D Systems also sought to acquire Stratasys – when these two deals did not come to fruition either.
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