STS Capital Partners Managing Director 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.In making the announcement Wohlers said, “Thank you to STS Capital Partners. This company helped put this 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 at uncovering many candidate organizations, several of which were a good fit for our business. Over time, we narrowed It down and began to negotiate with a few of them.”
STS Managing Director Shamil Hargovan, far left, with Terry Wohlers and several members of ASTM’s leadership at Formnext Conference in Frankfurt, Germany.
The sale of Wohlers Associates to ASTM speaks to the importance 3D Printing will have in the future of manufacturing, giving ASTM a greatly enhanced capability to set standards for this rapidly emerging technology.
“We were happy to provide the expertise that made this extraordinary exit happen, resulting in great benefits for both parties,” Hargovan said. “Wohlers Associates was able to realize their required and preferred outcomes in the sale, but more importantly we reached out to a wide range of nontraditional possible acquisition partners, and garnered an ideal home that plans to build upon their great legacy in this rapidly growing industry.
As a result of this experience with Wohlers Associates, we have identified a whole range of companies In the AM industry who are capable, willing and interested in acquiring strategic value assets for their enterprises. We welcome hearing from business owners who want to explore the many opportunities available to them to realize an extraordinary return as they exit and sell their business.”
Along with Wohlers Associates, ASTM International acquires the Wohlers Report, the premier publication for the AM industry, along with intelligence briefs, specialized reports, training in design for AM, and consulting services.
“We are thrilled to welcome Wohlers Associates to the ASTM family,” Katharine Morgan, ASTM International president said in an announcement sent from ASTM’s headquarters in West Conshohocken, Pa. “Wohlers has been a trusted source of intelligence and analysis for the AM community for more than 30 years, and I am 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 more than 8,000 participants from around the world who are the leaders in their technology and business marketplaces
At the conference Hargovan spoke about the mergers and acquisitions trend in the industry on a panel he hosted with Wohlers and Brian Meincke, vice president of Global Business Development and Innovation Strategy at ASTM International.
He explained that at STS “our massively transformational purpose is to generate billions in new philanthropic and impact capital through M&A.” As Managing Director at STS Capital Partners, Hargovan co-chairs STS’ “Success to Significance™” pillar focusing on social impact and maximizing true legacy potential. He also serves as CEO of Altruvest Charitable Services, a global nonprofit organization affiliated with STS, that provides leadership, training and tools to improve the governance of community-based charities.
Hargovan is a featured speaker and thought leader in the areas of Industry 4.0, blended physical-digital experiences, augmented reality and the future of retail and e-commerce. In 2016, he was named a Forbes 30 Under 30 honoree In Manufacturing and Industry — and again in 2017 to the Forbes 30 Under 30 All-Star list. He has also been featured as one of Inc. Magazine’s “50 Emerging Global Entrepreneurs to Watch.”
Prior to joining STS, Hargovan co-founded Wiivv Wearables and as CEO grew the company to become one of the world’s largest suppliers of custom 3D-printed footwear. He drove an award-winning commerce experience and led commercial partnerships with international governments and sports, athleisure and wellness brands, including Dr. Scholl’s and Lululemon. Wiivv pioneered state-of-the-art digital manufacturing in the U.S. and Canada based on measurements captured from a smartphone or retail scanner. In 2020 Hargovan exited his stake to a private, strategic capital group.
Hargovan spent several years at HP Inc. on the executive team defining the company’s additive manufacturing strategy, which ultimately led to the formation of its 3D printing business unit. He also managed several highly profitable product lines, while directing major cross-functional customer experience and business transformation initiatives across the $60 billion printing and personal systems global business. Before working at HP, he was a management consultant at Clarkston Consulting. He started his career at SRI International (formerly Stanford Research Institute), incubating new ventures and strategic programs.
Hargovan holds a B.A. in philosophy, politics and economics (PPE) from Claremont McKenna College. His volunteer experience includes serving on the boards of nonprofit organizations and other community work, which has been recognized by Rotary International with Paul Harris Fellowships for his contributions to international service. He has lived in North America, Africa and Australia, currently residing in Seattle, Wash., with his family.