3D software firm enters new dimension after acquisition

A 3D software firm based in Derbyshire has been acquired by a rival.

Cadtek, in New Mills, has been bought by Solid Solutions Management which has secured £8m from the Business Growth Fund.

The acquisition will strengthen Leamington Spa-based Solid Solutions’ position as the UK & Ireland’s leading reseller of SolidWorks, which is a computer aided design software package used by 230,000 companies worldwide.

Solid Solutions provides software tools, training and support to more than 5,500 UK & Ireland-based customers.

The acquisition adds Cadtek’s eight UK training centres to the 15 already operated by Solid Solutions.

Managing director Alan Sampson, who co-founded the business in 1998, said: “BGF’s 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 supportive equity partner.”

BGF’s growth capital investment is also being used to support the continued growth of the core business. The enlarged company will have a turnover of £30m and employ 150 people.

Colin Garrett, who is currently chairman of several other businesses including Centiq, Impero Software and Silverwing, has been appointed as non-executive chairman of Solid Solutions.

James Syrotiuk, an investor at BGF who will sit on the board of Solid Solutions, added: “There remains a lot of opportunity for Solid Solutions in the 3D CAD market.”

The investment in Solid Solutions was led for BGF by James Syrotiuk, Aaron Baker, Saarung Shah and Ian Downing.

White & Black advised Solid Solutions, while BGF was advised by Squire Patton Boggs, MCC Consulting and Claritas Tax.