Private equity firm TA Associates has announced an investment of an “undisclosed sum” in CAD specialist Compusoft. The investment is expected to close in the third quarter of 2018.
Following the deal, TA Associates managing directors Naveen Wadhera and J. Morgan Seigler will join the Compusoft board.
“Compusoft is among the industry leaders in Europe, with a high-quality business model and an impressive history of sustained growth,” said Wadhera.
“We look forward to partnering with Compusoft, which fits squarely within our focus on profitable businesses with strong management teams and proprietary products and services, to help the company capitalise on its strategy and accelerate growth.”
Seigler said TA expects “continued meaningful growth” for Compusoft, which has recently invested £3 million in new headquarters in the UK on the back of increasing demand for kitchen and bathroom modelling services.
“We expect interest in Compusoft’s unique offerings and capabilities to expand further across Europe and other regions,” said Seigler.
Through its main products Winner Design and Innoplus, Compusoft allows users to easily design and view kitchens and bathrooms in 3D on a smartphone or tablet. Its systems include proprietary databases of graphic elements, pricing information and language translations from more than 2,800 digital manufacturer catalogues.
Compusoft chief executive David Tombre said: “Given our mission to create measurable added value for our customers, we believe TA Associates, with their well-earned reputation for helping businesses reach their full potential, is an ideal partner for Compusoft.
“We have enjoyed notable organic and acquisitive growth over the course of our nearly 30-year history and are confident that TA can help us build on that success. We welcome the opportunity to work with TA as we explore opportunities for continued expansion.”