Creates Leading Global Engineering Design Solutions Platform
NEW YORK, June 27, 2022 /PRNewswire/ -- TriMech, a portfolio company of Sentinel Capital Partners, today announced its acquisition of Solid Solutions Group ("SSG"), a leading provider of 3D computer-aided design ("CAD") software and services in the United Kingdom and Ireland. Sentinel, a private equity firm that invests in promising midmarket companies, acquired TriMech, also a leading provider of 3D CAD software and services in the United States, in March 2022. Sentinel provided significant follow-on equity financing to support the SSG add-on acquisition. Terms of the Solid Solutions Group acquisition were not disclosed.
Headquartered in Leamington Spa, England, SSG provides software, support, and training to thousands of engineers, designers, and manufacturing companies across the UK and Ireland. This includes providing SOLIDWORKS solutions (a 3D CAD application developed by Dassault Systemès), computer-aided manufacturing ("CAM"), and a comprehensive portfolio of Dassault solutions including CATIA, its 3DEXPERIENCE platform, and its full line of product data management ("PDM") and simulation tools. SSG's client base ranges from product designers, mechanical engineers, and manufacturers to entrepreneurs and educational institutions, with its software supporting a broad range of products across a diverse range of end markets and industries. SSG operates from 23 offices across the UK and Ireland and employs more than 250 people.
Headquartered in Richmond, Virginia, TriMech is a provider of CAD and CAM software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services to clients across a broad spectrum of industries. TriMech partners with leading software and hardware providers, including Dassault Systèmes and Stratasys, throughout the central and eastern United States and Canada, and delivers expert technical support to its clients through its world-class engineering staff.
"SSG is a well-established company with a strong management team that is poised for continued growth," said Jon Gurss, a principal at Sentinel. "Adding SSG to the TriMech platform creates the most comprehensive provider of software and service for SOLIDWORKS and Dassault Systemès in the Western Hemisphere. The combined global platform brings together hundreds of technical specialists from several countries and enhances our best-in-class support services."
Marcel Matte, President and CEO of TriMech, said, "The SSG acquisition broadens TriMech's capabilities to deliver technology and business solutions to our global clients, including multinational corporations operating in North America, the UK, Ireland, and other parts of Europe. Custom, process-specific solutions – both within engineering departments and beyond – are becoming increasingly important, and we are now superbly positioned to provide best-in-class service to our clients."
SSG is led by CEO Alan Sampson, who said, "Joining TriMech and Sentinel is extremely exciting for our team. Through the combination, we will have significant new opportunities to serve our clients and the ability to continue growing organically and via acquisitions in European markets."
The SSG acquisition represents an example of how Sentinel can support its portfolio companies' global growth ambitions. TriMech is the latest example of Sentinel's investment capabilities in the business services sector. Sentinel's current service businesses portfolio include Apex Companies, an environmental services company specializing in water resources and industrial hygiene; Corporate Visions, a provider of training services to improve sales force productivity; Mobile Communications America, a regional provider of communications solutions and services; New Era Technology, a global provider of managed IT services focused on collaboration and data networks; Revenew, a provider of cost recovery and cost containment services that deliver monetary recoveries and cost reduction benefits; Total Military Management, a global provider of relocation services for U.S. military and government personnel; TranSystems, a national provider of infrastructure engineering and design services; TTG Imaging Solutions, a national provider of nuclear medicine and molecular imaging solutions; and UBEO, a provider of best-in-class document management services.
About Sentinel Capital Partners
Sentinel specializes in buying and building midmarket businesses in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, going-private transactions, and structured equity investments of established businesses with EBITDA of up to $80 million. Sentinel also invests in special situations, including balance sheet restructurings, operational turnarounds, and minority junior capital solutions. For more information about Sentinel, visit www.sentinelpartners.com.
About Solid Solutions Group
Founded in 1998, SSG is the leading SOLIDWORKS provider in the United Kingdom and Ireland. SSG operates 23 offices, with headquarters in Leamington Spa, England. With a core mission to support client excellence throughout the design, engineering, and manufacturing industries, the SSG team offers software solutions and related training and consulting and has one of the world's most highly certified SOLIDWORKS support team. For more information, please visit www.solidsolutions.co.uk.
Founded in 1998 and headquartered in Richmond, VA, TriMech is a leading technology and business solutions partner for designers, engineers, and manufacturers. It works with top software and hardware partners, including Dassault Systèmes, CNC Software, Stratasys, and Artec, and its experts provide computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services for clients across a variety of industries. Its tools support 3D modeling, simulation, virtual replication, and collaboration, as well as data management, configure-price-quote automation, product lifecycle management, and enterprise resource planning. With its acquisition of Solid Solutions, TriMech has grown to over 50 locations across four countries – the United States, Canada, the United Kingdom, and Ireland – serving more than 30,000 clients with over 650 employees, including approximately 270 application engineers. For more information, please visit www.trimech.com.
Contact: Roland Tomforde
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SOURCE Sentinel Capital Partners