www.stratasys.com
In October 1994 RAMCO, through Vertical Financial, acquired 1.2mm (split-adjusted) shares of Statasys (NASDAQ: SSYS) then a development stage company. Statasys is a leading manufacturer of in-office rapid prototyping (RP) systems. Stratasys RP systems create precision three-dimensional prototyping parts directly from 3D CAD systems for use in testing form, fit and function throughout the design and development process.
As of December 31, 2007, SSYS had a market capitalization of approximately $450 mil.
Business Criterion
The company had favorable long term prospects.
Management Criterion
The Crump family was honest and competent with a history of building successful companies.
Financial Criterion
The company had sustainable high profit margins owing to the patented product and management's ability to keep costs low.
Market Criterion
The company could be purchased at a significant discount to Mr. Matzner's determination of its intrinsic value.
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