CONTACT: John Upton - Marketing Operations
COMPANY: SOLID SOLUTIONS MANAGEMENT LTD
PHONE: 01926 333777
EMAIL: john.upton@solidsolutions.co.uk
Solid Solutions Acquires GRM Consulting and 3DPRINTUK
May 22nd, 2023:
Solid Solutions, a UK-based technology and business solutions partner for design engineers and manufacturers, has acquired GRM Consulting and 3DPRINTUK.
Based in Leamington Spa, England, GRM provides design optimization services and software, with special expertise in advanced simulation, composite materials, and analysis. For 20 years, product designers in industries such as automotive, motorsports, aerospace, rail, and medical have engaged GRM to help them solve complex engineering problems.
3DPRINTUK, headquartered in London, England, is the leading UK-based 3D printing service bureau. Thousands of clients across the UK rely on their expert service and industrial-grade production systems for on-demand additive manufacturing of prototypes, tooling, and end use parts.
A focus on services
These recent moves follow TriMech’s acquisition of Solid Solutions in 2022, which brought together hundreds of technical specialists from across North America, the UK, and Ireland. Expanding their simulation consultancy team and adding 3D printing services with these two acquisitions helps Solid Solutions further expand its offerings. Along with the acquisition of recruitment specialists Solid People earlier this year, Solid Solutions continues to build a comprehensive set of services to help support its clients from design through production.
Alan Sampson is TriMech’s Global CEO. He said that since Solid Solutions became part of TriMech, the integrated business has delivered on its strategy to expand and diversify service offerings.
“We’re always seeking to enhance our position as the best-in-class partner to the advanced design, engineering, and manufacturing sectors across the globe. Bringing in the teams from both GRM and 3DPRINTUK sets the stage for further growth in key service areas. Each of these well-established, growing businesses provides an excellent foundation to build upon.”
Alan Sampson, TriMech CEO
Opportunities for collaboration and growth
GRM’s Managing Director Martin Gambling explained that his team uses a unique combination of deep expertise, proven methodologies, and advanced software to accelerate complex designs and shave hours off the product development lifecycle. Specialties include stress analysis, non-linear FEA (finite element analysis), CFD (computational fluid dynamics), light-weighting, composite engineering and topology optimization.
“We work in the most demanding sectors, with fast-moving clients who continually innovate and push design boundaries. Working in Formula 1™, we are proud to have supplied the team winning the Driver’s Championship for 17 of the last 18 years. I’m looking forward to capitalizing on the size and strength of a larger technical team, which will help us deploy even more resources to tackle complex challenges.”
Martin Gambling, GRM Consulting Managing Director
3DPRINTUK, founded in 2011, are specialists in low-volume production using SLS (selective laser sintering) and MJF (multi-jet fusion) additive manufacturing systems, along with post-processing capabilities. They bridge the gap between prototype and injection molding for clients spanning a range of sectors, from consumer products to marine to aerospace.
Director Nick Allen said he is excited about the opportunities for growth.
“Serving as the dedicated 3D printing services team for the Solid Solutions Group, and tapping into their diverse client base, gives us a chance to share our expertise more widely. We’ll also have a chance to collaborate with TriMech’s Advanced Manufacturing Services experts in North America and work internationally to deploy best practices and emerging technologies for our clients.”
Nick Allen, 3DPRINTUK Director
The right mix of tools for the job
Sampson said that more specialized offerings in key areas are becoming increasingly important to engineering and manufacturing clients.
“Clients are seeking more depth of expertise and a single technology partner who can advise and guide them, while providing products and services that influence all aspects of their business. Professional, reliable services fill clients’ gaps quickly and keep their work on track. And adding these new services enhances our ability to always bring the right mix of tools to the job.”
Alan Sampson, TriMech CEO
Leadership will remain consistent at both GRM Consulting and 3DPRINTUK.
For more information, visit TriMech.com, GRM-Consulting.co.uk or 3DPRINT-UK.co.uk.
About TriMech
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. TriMech has grown to have more than 50 locations across four countries – the United States, Canada, the United Kingdom, and Ireland – serving more than 30,000 clients with over 650 employees. TriMech is a portfolio company of Sentinel Capital Partners, a U.S. private equity firm.
Visit TriMech.com. About GRM Consulting
GRM Consulting is a design engineering consultancy based in England. The team specializes in all major CAE (computer-aided engineering) techniques and provides services and software solutions. Within GRM’s core is the development and application of design optimization methodologies to solve complex engineering problems in the most efficient, cost-effective way. GRM’s vision is to be the first choice for optimized engineering design solutions for organizations all over the world.
Visit GRM-Consulting.co.uk. About 3DPRINTUK
3DPRINTUK are specialists in low volume production using state-of-the-art SLS and MJF 3D printing systems. Their aim is to bridge the void between prototype and injection molding and make the best plastic parts possible. With more than 10 years’ experience, the 3DPRINTUK team has mastered the process of printing parts using both SLS and MJF technology, with no need for support material, virtually no layer lines, and short turnaround times, all of which combine to produce accurate, robust parts, time and time again.
Visit 3DPRINT-UK.co.uk. Solid Solutions Acquires Recruitment Specialists Solid People
January 16th, 2023:
Solid Solutions - A TriMech Company has acquired Solid People, a UK-based team of CAD (computer aided design) recruitment specialists who help clients grow their engineering and design teams.
Based in Newark, Nottinghamshire, Solid People is led by Ross Bannister, who founded the company 13 years ago. Its specialty is recruitment services, to help clients fill positions that require proficiency in tools such as SOLIDWORKS and the Dassault Systémes 3DEXPERIENCE Platform. Over the years, Ross has built a small team, who recently expanded their scope to provide software and training to their customers.
The acquisition is an important step in bringing industry-specific staffing services to Solid Solutions’ clients. Alan Sampson, Solid Solutions CEO, said he welcomes the unique expertise of the Solid People team.
“Solid People is known for its dedication to finding skilled people quickly, so clients can work efficiently, complete projects on time, and be successful. In a time when it is particularly challenging and time-consuming to fill technical positions, we expect demand for recruitment support to continue to grow.”
Alan Sampson, Solid Solutions CEO
Ross is a former employee of Solid Solutions. He explained that he is looking forward to being part of the company again.
“Our team is ready to collaborate with a wider team of talented people and to be part of Solid Solutions’ overall plan to continually expand services to meet client needs. Together, we’re going to make a real difference in a lot of workplaces.”
Ross Bannister, Solid People Managing Director
Solid Solutions supports a community of more than 15,000 UK- and Ireland-based clients. These span a wide variety of sectors and include product designers, mechanical engineers, manufacturers, and educational institutions. TriMech, based in the U.S., acquired Solid Solutions in 2022. Within the TriMech divisions, recruitment services is already a popular offering in North America.
Clients who work with Solid People’s recruitment team or engage with Solid People for SOLIDWORKS or 3DEXPERIENCE solutions or support will see no immediate changes to how they do business with the company.
At the same time, they will have access to an even wider range of products and services offered by Solid Solutions and the larger TriMech team. These range from specialized skill-based training courses, to cloud hosting, to enterprise-wide solutions that support complete digital transformation.
For more information, please contact us or call us on 01926 333777.
About TriMech / Solid Solutions
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 have more than 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 TriMech.com.
About Solid People
Since 2009 Solid People have been helping companies throughout the UK grow their design teams with specialist CAD recruitment services. Their recruitment team are all trained in CAD, so understand the industry, helping find the right candidates with the right skills for their clients.
Headquartered in Newark, Nottinghamshire, they have a UK wide client base covering a large range of industries such as Automotive, Medical, Furniture, Machinery and Consumer Products. With an ever-growing network of trusted and skilled candidates, they’re able to support their clients with both permanent and contract recruitment services.
In 2021 Solid People also partnered with Dassault Systèmes to provide a wider range of services including the supply of CAD software, support and training. For more information, please visit solidpeople.co.uk.
TriMech and Solid Solutions Unite
Monday June 27th, 2022: Forms a strategic transatlantic technology and solutions partnership for the advanced design, engineering, and manufacturing sectors
RICHMOND, Va., June 27, 2022 /PRNewswire/ -- TriMech has acquired Solid Solutions Group, bringing together hundreds of technical specialists from across four countries, and expanding support for design engineers and manufacturers in North America, the UK, and Ireland.
Marcel Matte, President and CEO of TriMech, said this move continues TriMech’s effort to broaden the technology and business solutions it can deliver to its clients, who work in industries as diverse as automotive to aerospace, and mining to medical devices.
“For more than two decades, each company’s clients have trusted the advice and support we offer across every stage of the product development process. As we grow, we improve our ability to develop sophisticated, custom solutions that address even more of their challenges. This is one critical way we match up well with Solid Solutions. We both value the partnerships we have with clients who are navigating digital and business transformations.”
Marcel Matte, President and CEO of TriMech
Shaping the industry
The combined company, which has people working in nine time zones, is the most comprehensive provider of software and services for the SOLIDWORKS and Dassault Systèmes portfolio across their combined geographies. Both TriMech and Solid Solutions have a long history of delivering exceptional training, consulting, and support services, with a focus on expanding their capabilities to help take their clients’ businesses to the next level – in design, simulation and analysis, process and workflow, documentation, product data and lifecycle management, as well as offerings for the production floor.
Matte said both TriMech and Solid Solutions believe strongly in the value of serving as a one-stop technology solutions partner to clients of all sizes, including multinational corporations operating in North America, the UK, and other parts of Europe.
“Our leadership teams have embraced a unique vision that maintains a strong focus on enhancing our core products and services while continually increasing our ability to deliver more for those who need it. Custom, process-specific solutions – both within the engineering department and beyond – are becoming increasingly important.”
Marcel Matte, President and CEO of TriMech
Growing together with clients
Solid Solutions is led by CEO Alan Sampson, who will become President of TriMech’s UK and European business. The Solid Solutions management team will remain in place, and the combined company will continue to execute a strategy to expand its portfolio of solutions and services, both organically and through acquisitions.
“We continue to evolve and grow in ways that benefit our clients. No matter how large, diverse, or complex they become, we want to have the offerings and experts to deliver the results they need for the next chapter in their development. That is why joining TriMech is also exciting for our team, who recognise all the opportunities they’ll have to serve our clients in new ways.”
Alan Sampson, Solid Solutions CEO
Solid Solutions’ UK and European clients will eventually gain access to TriMech’s services, including the ability to outsource engineering and advanced manufacturing projects to TriMech, and to use its dedicated and uniquely qualified recruitment team to quickly fill technical positions on their design and engineering teams where SOLIDWORKS and Dassault Systèmes product expertise are critical.
TriMech is a portfolio company of Sentinel Capital Partners, a U.S. private equity firm that invests in promising lower midmarket companies with EBITDA of up to $80 million. Solid Solutions joins TriMech following a two-year successful partnership with LDC, a leading UK mid-market private equity firm, during which the business grew organically and through acquisitions to increase its revenues by more than 35%.
To support continued growth of the combined company, both TriMech and Solid Solutions are actively recruiting for a range of positions in the US and UK/Ireland.
For more information, visit https://trimech.com/expansion-into-uk-with-solid-solutions-acquisition. Find TriMech online at TriMech.com, Solid Solutions at SolidSolutions.co.uk and Sentinel Capital Partners at SentinelPartners.com.
Solid Solutions Management Ltd. Welcomes Desktop Engineering Ltd.
Wednesday October 20, 2021: Solid Solutions Management Ltd has acquired Oxfordshire based Desktop Engineering Limited (DTE) to strengthen its ability to deliver a broader spectrum of design, engineering, and enterprise-wide solutions.
Having acquired several key businesses over the past six years, Solid Solutions now supports a customer community of more than 15,000 UK and Ireland-based customers. These encompass product designers, mechanical engineers, manufacturers, and educational institutions.
The Group already delivers an expansive portfolio of solutions, ranging from 3D design (CAD), manufacturing (CAM) and data management (PDM/PLM) software tools, training, and technical support services, through to comprehensive business transformation programmes.
The acquisition adds increased scale and capacity and allows both existing customers of the Solid Solutions Group, and customers of DTE to benefit from an even wider product and service offering. The team at DTE brings a wealth of experience and expertise in delivering engineering software solutions from Dassault Systèmes with notable success in connecting companies to the 3DEXPERIENCE Cloud platform.
Alan Sampson, CEO at Solid Solutions, commented:
“This investment reflects our commitment to delivering the most comprehensive suite of transformative technologies to customers. We are experiencing growing demand for the more extensive solutions in the Dassault Systèmes portfolio and have invested significantly in expanding our delivery teams with the most qualified engineers in the country.”
Solid Solutions Management Ltd. Welcomes Design Rule Ltd.
4 June 2021: Leamington Spa based Solid Solutions Management Ltd has acquired Design Rule Limited to support its continued growth and enhance its ability to deliver more sophisticated design, engineering, and enterprise-wide solutions.
Having acquired several key businesses over the past six years, Solid Solutions now supports a customer community of more than 15,500 UK and Ireland-based customers. These encompass product designers, mechanical engineers, manufacturers, and educational institutions. The Group already provides an extensive range of 3D design (CAD) and manufacturing (CAM) software tools, as well as comprehensive training and support services.
The acquisition adds both scale and capacity and allows customers to benefit from an even wider product and service offering. The team at Design Rule brings a wealth of expertise in delivering leading-edge Product Lifecycle Management (PLM) Solutions from Dassault Systèmes into manufacturing companies within the UK and worldwide.
Alan Sampson, CEO at Solid Solutions, commented:
"This investment allows us to accelerate the growth plans for the business by increasing our scale and expanding our capabilities. We are experiencing growing demand for the more extensive solutions in the Dassault Systèmes portfolio and are delighted that we are now positioned to respond to this demand with the backing of a highly experienced team."
A message from our CEO, Alan Sampson: COVID-19
20 March 2020: In light of the COVID-19 outbreak and the uncertainty and disruption it has caused, I wanted to send a message of support to our customers and to reassure you all that Solid Solutions is still very much open for business. Naturally we will continuously monitor the situation and act accordingly, making sure all possible measures are taken to support the health and well-being of our staff and customers.
We have always prided ourselves on being a responsive and agile business. Undoubtedly the current situation represents a huge challenge for us all, but it is one we are determined to rise to. Our principle activity has always been to provide ongoing technical support for thousands of design and engineering businesses. Naturally, we have seen an increase in support calls to our technical teams as customers look for help switching their workforce to remote working. We have scaled up our capacity to support you and all of our technical teams have moved across to home working. Solid Solutions is a stable and robust business, and I am confident our resilience will ensure we can support our customers as well in the future as we have been doing for the past two decades.
Staying productive
We have given a lot of consideration to what material we can produce to help make the most of any downtime you might face. We will be delivering a range of items including up-skilling webinars, instructional videos, free training and material designed to offer personal development. Watch out for details in the coming days.
Training We are switching our classroom-based courses to virtual, real-time training courses. This will continue to be delivered by an experienced instructor and allow you the opportunity for discussion and direct interaction. Read more here.
Keep in touch
We all hope that these challenging times are short lived and we can return to normal as soon as possible, please be sure to make use of our resources to get any help you require. We welcome any suggestions for other ways we can assist you... just ask.
In the meantime, I wish you all the best and sincerely hope you and your families stay healthy.
Alan Sampson, CEO
Solid Solutions secures significant investment from LDC to accelerate growth strategy
Software reseller set to expand footprint and introduce new product and service lines
10 February 2020: Solid Solutions, a market leading reseller of 3D design software, has secured a minority investment from mid-market private equity investor LDC to accelerate organic growth. As part of the deal, Solid Solutions’ existing backer, BGF, will exit its minority stake.
Founded in 1998, Solid Solutions is the UK and Ireland’s leading reseller of SOLIDWORKS, the 3D computer aided design (CAD) package that is owned by Dassault Systems and used by more than five million people worldwide.
Solid Solutions provides software, support and training to thousands of engineers, designers and manufacturing companies across the UK and Ireland. This includes providing 3D CAD, computer-aided manufacturing (CAM) and product data management (PDM) software tools, as well as operating its 3D printer business, Solid Print 3D.
Its 15,000-strong UK and Irish customer base ranges from product designers, mechanical engineers and manufacturers, to entrepreneurs and educational institutions, and its software has supported a diverse range of projects. This includes being used by the Royal National Lifeboat Institution (RNLI) to design its latest vessel, the Shannon class, all-weather lifeboat, and by Denby to recreate hand thrown pottery. Other customers include Stannah Stairlifts, Oxford Space Systems and contact lens manufacturer Coopervision.
With headquarters in Leamington Spa, Solid Solutions operates from 23 offices across the UK and Ireland and employs more than 230 people. Under the leadership of founder and CEO Alan Sampson, CTO Simon Turner and CFO Kathy Sampson, the business has experienced strong year-on-year growth and now generates annual turnover in excess of £50million. It has also been recognised as one of the ‘75 best companies to work for’ in the Midlands by The Sunday Times for creating an engaging workplace.
BGF, which first backed Solid Solutions in 2016 with £8million investment, has supported the business as it significantly expanded its product and service capabilities with the acquisition of software providers Cadtek Systems, New Technology CADCAM, and Solid Solutions Innovations.
Moving forward with LDC’s investment and support, the existing management team will embark on the next stage of its ambitious growth strategy to grow organically and explore complementary acquisitions. It will also look to roll-out new services and products, strengthening its position as the UK and Ireland’s leading SOLIDWORKS provider.
Alan Sampson, CEO of Solid Solutions, said: “We are experiencing growing demand for our services from a large, expanding customer base, many of whom have been with us for over 20 years. With the support of BGF over the last three years, we have been able to significantly grow our existing activities and acquire complementary businesses that are now core to the Solid Solutions family.
“LDC is the perfect partner to help us on the next stage of our journey. Their investment allows us to accelerate the growth plans for the business by increasing our scale, capacity and capability, enabling customers to benefit from an even wider product and service offering. Our focus is always centred on our partnership with customers. Continued investment in our own growth means we will remain agile and responsive when delivering the world-class service our customers have come to expect.”
The transaction was led by LDC’s Rob Schofield, Richard Whitwell and Lawrence Dean. Rob and Richard will join the board as Non-Executive Directors.
Rob Schofield, Director at LDC in Birmingham, added: “Solid Solutions is a true Midlands success story, and with its rapidly expanding customer base and standout reputation, the business continues to go from strength-to-strength. The computer-aided software sector has boomed in recent years and this growth looks set to continue. With the increasing demand, and Solid Solutions’ established customer portfolio, there is a real opportunity for us to support Alan and his team as they cement the firm’s market-leading position.”
Ian Downing, an investor at BGF, added: “Solid Solutions has seen fantastic growth over the last three years, testament to a management team with a bold vision for their business and a passion for supporting their clients. We wish them all the very best for the next stage of their journey with LDC.”
BGF introduced Colin Garrett to the business in 2016, when he joined as Non-Executive Chairman. Colin will continue to support the business as a Non-Executive Director following LDC’s investment.
In February 2019, the business received 17 awards at the annual SOLIDWORKS’ conference in Dallas, confirming its position as the UK’s leading 3D CAD provider for SOLIDWORKS. It also maintains a Platinum Trusted Service Award from independent review provider, Feefo, with a score of 4.8/5.0, reflecting strong satisfaction by customers.
Banking facilities were provided by Muzinich & Co. Limited and Santander.
LDC was advised by Gowlings (legal), DC Advisory (Corporate Finance) and BDO.
Solid Solutions and its shareholders were advised by KPMG (Corporate Finance), EY (Financial Due Diligence), Shoosmiths (Legal) and CIL (Commercial Due Diligence).
For press information, contact:
LDC
Citypress
Bex Thomas
0161 235 0329
Bex.Thomas@citypress.co.uk
BGF
Katie Flynn, PR Manager
katie.flynn@bgf.co.uk
07778 472 803
Solid Solutions
John Upton
john.upton@solidsolutions.co.uk
01926 333777
Notes to editors:
About LDC
- LDC is the private equity arm of Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority.?
- LDC has committed to invest £1.2bn in UK mid-market businesses over the next three years.
- LDC has a portfolio of 90 businesses across the UK which collectively generate £6bn of revenues and employ?in excess of?30,000 people.
- LDC invests in a broad range of sectors including Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure, Support Services, Construction & Property and Financial Services.
- LDC has a nationwide network of regional offices to provide a local presence to the businesses and communities it supports.
For further information, visit the LDC Website.
About BGF
BGF is the most active and influential investor in small and mid-sized businesses in the UK. An established and independent company, it has £2.5bn to support a range of growing companies – early stage, growth stage and quoted – across every region and sector of the economy.
BGF makes long-term equity capital investments in return for a minority stake in the companies in backs. Initial investments are typically between £2-£10m and BGF can provide significant follow-on funding. BGF is a minority, non-controlling equity partner with a patient outlook, based on shared long-term goals with the management teams it backs. With a 150+ strong team, BGF offers an unparalleled international network of business leaders, sector experts, board-level non-executives and provides in-house support with Chair and senior executive selection and appointments.
BGF offers flexible investment structures with a mix of equity and shareholder loan notes. BGF can provide equity release for existing shareholders, and funding to support acquisitive and organic growth strategies.
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Solid Solutions Management Acquires New Technology CADCAM
14 August 2017: Leamington Spa-based Solid Solutions Management Ltd has acquired New Technology CADCAM to support its continued growth and enhance its ability to deliver more sophisticated SOLIDWORKS-based CAD solutions.
Having acquired New Technology CADCAM, and following the acquisition of Cadtek Systems Ltd in 2016, Solid Solutions now supports a customer community of more than 12,500 UK and Ireland-based customers. These encompass product designers, mechanical engineers, manufacturers and educational institutions. The Group provides an extensive range of 3D computer aided design (CAD) and manufacturing (CAM) software tools, as well as comprehensive training and support services.
Founded in 1998 by Managing Director, Alan Sampson, and Technical Director, Simon Turner, the business has experienced strong growth and is the UK & 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 £40 million, employs 220 people across the UK & Ireland and has more SOLIDWORKS Elite Applications Engineers than any other reseller worldwide. In January this year, the business received 17 awards at the annual SOLIDWORKS’ conference in Los Angeles, confirming its position as the UK’s leading 3D CAD reseller for SOLIDWORKS.
The acquisition adds both scale and capacity benefits, and allows customers to benefit from an even wider product and service offering, plus easier access to training by adding New Technology CADCAM’s eight UK training centres to the 11 already operated by Solid Solutions.
Alan Sampson, Managing Director at Solid Solutions, 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, the UK’s most active investor in small and midsized companies. To support its continued growth, BGF invested £8m in the business in March 2016.
James Syrotiuk, Investor at BGF who sits on the Board of Solid Solutions, 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.”
Advisors to the transaction were: White & Black LLP
Notes to editors:
www.bgf.co.uk
Twitter: @bgf_team
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BGF backs Solid Solutions Management Ltd with £8m investment
23 March 2016: Leamington Spa-based Solid Solutions Management Ltd has received an £8m investment from BGF (Business Growth Fund) to support its continued growth.
Solid Solutions provides a range of 3D computer aided design (CAD) software tools, training and support to more than 5,500 UK & Ireland-based customers including product designers, mechanical engineers, manufacturers and educational institutions.
Founded in 1998 by Managing Director Alan Sampson and Technical Director Simon Turner, the business has experienced strong growth and is now the UK & 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 230,000 individual companies.
Solid Solutions, which generates annual turnover of £30m, employs 150 people across the UK & Ireland and has more SOLIDWORKS Elite Applications Engineers than any other reseller worldwide. In January this year, the business received 21 awards at the annual SOLIDWORKS’ conference in Texas.
BGF’s growth capital investment is being used to support the continued growth of the core business, expand its bespoke offering, and facilitate the acquisition of Derbyshire based Cadtek, the UK & Ireland’s third largest SOLIDWORKS reseller. The acquisition adds both scale and capacity benefits, and allows customers to benefit from an even wider product and service offering, plus easier access to training by adding Cadtek’s eight UK training centres to the 15 already operated by Solid Solutions.
As part of the investment, Colin Garrett has been appointed as non-executive Chairman of Solid Solutions. Colin is currently Chairman of several other businesses including Centiq Ltd, Impero Software Ltd and Silverwing Ltd.
Alan Sampson, Managing Director, Solid Solutions 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.”
James Syrotiuk, an Investor at BGF who will sit on the board of Solid Solutions said: “There remains a lot of opportunity for Solid Solutions in the 3D CAD 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 investment in Solid Solutions was led for BGF by James Syrotiuk, Aaron Baker, Saarung Shah and Ian Downing. Advisors to the transaction were: For Solid Solutions: White & Black LLP
For BGF: Squire Patton Boggs (UK) LLP, Martyn Crowfoot (MCC Consulting Ltd), Claritas Tax Ltd
Notes to editors:
About BGF: BGF (Business Growth Fund) is the UK’s most active provider of growth capital to small and mid-sized businesses. The companies it backs are privatelyowned or listed on AIM, and typically have revenues of between £5m and £100m.
BGF makes initial investments usually of between £2m-£10m and can provide additional funding to support further growth. The investment provided is typically in the form of equity in return for a minority equity stake.
BGF is an independent company with capital of up to £2.5 billion and is backed by five of the UK’s main banking groups - Barclays, HSBC, Lloyds, RBS and Standard Chartered.
www.bgf.co.uk
Twitter: @bgf_team
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