£40m CAD firm strengthens market presence with acquisition
A Warwickshire engineering company has strengthened its computer-aided-design (CAD) capabilities with a new acquisition.
Leamington Spa-based Solid Solutions Management has acquired New Technology CADCAM to enhance its ability to deliver more sophisticated Solidworks-based CAD solutions.
It said the acquisition added both scale and capacity benefits, and benefited customers through a wider product and service offering, plus easier access to training through an additional eight UK training centres, which will be added to the 11 already operated by Solid Solutions.
The acquisition of Bromsgrove-based New Technology CADCAM, follows a similar addition to the business in 2016 when it acquired Cadtek Systems.
The additions mean Solid Solutions now supports a network of more than 12,500 customers across the UK and Ireland. These encompass product designers, mechanical engineers, manufacturers and educational institutions.
The expanded group now provides an extensive range of 3D computer-aided-design (CAD) and manufacturing (CAM) software tools, as well as comprehensive training and support services.
The group was founded in 1998 by managing director, Alan Sampson, and technical director, Simon Turner. It has undergone strong growth in the past 19 years and is now the UK and Ireland’s leading reseller of Solidworks, the 3D CAD software package owned by Dassault Systèmes.
Solidworks is used by more than three million product designers and engineers worldwide and by over 265,000 individual companies.
The Solid Solutions Group, which generates annual turnover in excess of £40m, employs 220 people across the UK and Ireland and has more Solidworks Elite Applications Engineers than any other reseller worldwide.
Mr Sampson said: “This investment allows us to accelerate the growth plans for the business by increasing our scale. We are experiencing growing demand for the products and training we provide, and are delighted that we are positioned to respond to this demand with the backing of a highly experienced team that also helps broaden the range of solutions we offer.”
Solid Solutions is backed by BGF, which invested £8m in the business in March 2016.
James Syrotiuk, investor at BGF and who sits on the Solid Solutions’ board, said: “There remains a lot of opportunity for Solid Solutions in the 3D CAD/ CAM market. Alan, Simon and their management team are passionate, knowledgeable and committed to growing the business. We are pleased to be supporting the company as it continues to pursue these opportunities.”
The business was advised on the transaction by White & Black.
