Compusoft and 2020 have struck a deal that will see the two companies merge together to create a “leading provider of space planning and manufacturing solutions for the residential and commercial segments”.
In a joint statement, Genstar Capital and TA Associates – the parent companies of 2020 and Compusoft respectively – announced that the brands will be combined in a “merger of equals” to create a leading provider of space planning and manufacturing solutions for the residential and commercial segments. The deal is expected to be complete in the second half of 2021.
Compusoft is a portfolio company of TA Associates, a global growth private equity firm that invested in Compusoft in 2018. 2020 is a portfolio company of Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrials and software industries that recently acquired 2020.
The newly-combined company will be majority owned by Genstar and TA.
Commenting on the deal, 2020 chief executive Mark Stoever said: “The merger of Compusoft and 2020 positions the combined company as a trusted provider whose suite of solutions supports designers, manufacturers and retailers. This is a transformative transaction and the support from Genstar and TA will enable us to invest in the business, new technologies and our people. We look forward to completing the transaction so we can continue to build on our companies’ unwavering commitment to innovation and customer service.”
David Tombre, chief executive of Compusoft, said: “We are excited by the opportunity this combination presents to create a leading provider of vCPQ solutions for home and commercial spaces. Given Compusoft’s presence in Europe and 2020’s presence in North and South America, the two businesses are truly complementary. Our priority remains our customers’ success and together we will provide an enhanced offering across support, content, innovation and technology.”
In the UK, Compusoft – best known for its Winner Flex and Innoplus design software – has a dedicated HQ in Ashby-de-la-Zouch, while 2020’s UK business – the brand behind 2020 Fusion design packages – is split between sites in Kent and Bolton. Kbbreview has contacted the brands for further clarification on how the merger will affect UK operations.
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