TA Associates to Invest in Compusoft
TA Associates, a leading global growth private equity firm, today announced that it has entered into a definitive agreement to invest in Compusoft, a leading provider of computer-aided design (“CAD”) software to the kitchen and bathroom retail industries. The investment is expected to close in the third quarter of 2018. Financial terms of the transaction were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180710006074/en/
Compusoft’s main products, Winner Design and Innoplus, provide design and sales support to kitchen and bathroom retailers, respectively. The user-friendly CAD systems include proprietary databases of graphic elements, pricing information and language translations from more than 2,800 digital manufacturer catalogues. They also feature fully-integrated graphics displayed in real‐time 3D. Additional Compusoft products allow individuals to easily design and view kitchens or bathrooms in 3D on a smartphone or tablet. The company also offers back-office customer relationship management (CRM) and process management software systems for small and large businesses. Founded in 1989 in Sarpsborg, Norway, Compusoft operates in 14 countries across Europe, as well as South Africa and Australia, and serves approximately 12,000 customers, including leading global manufacturers and retailers.
“Compusoft is among the industry leaders in Europe, with a high quality business model and an impressive history of sustained growth,” said Naveen Wadhera, a Managing Director at TA Associates who will join the Compusoft Board of Directors. “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 capitalize on its strategy and accelerate growth.”
“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,” said David Tombre, Chief Executive Officer, 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.”
“As the demand for kitchen and bathroom modeling services continues to rise, we expect interest in Compusoft’s unique offerings and capabilities to expand further across Europe and other regions,” said J. Morgan Seigler, a Managing Director at TA Associates who will also join the Compusoft Board of Directors. “Importantly, Compusoft’s innovative technology provides customers with a user-friendly experience to develop fully-customized spaces to meet their individual needs and desires. With the company’s leading market position, we anticipate continued meaningful growth for Compusoft.”
Goodwin is providing legal counsel, while Alvarez & Marsal and KPMG are providing consulting services to TA Associates. Kvale is providing legal counsel and ABG Sundal Collier is serving as financial advisor to Compusoft.
Founded in 1989 in Sarpsborg, Norway, Compusoft provides sales, management, communication, web and business solutions for the kitchen and bath industry. The company’s advanced CAD software solutions offer dynamic sales tools for retailers, helping them lead customers through the entire planning process, from sketch to fully installed kitchen or bath. With a focus on creating added value for its customers, Compusoft combines the development of high-quality software with a dedication to customer service. Compusoft operates in 14 countries across Europe, as well as South Africa and Australia. For more information, please visit www.compusoftgroup.com.
About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
Marcia O’Carroll, 617-574-6796
Stephen Fishleigh, +44-203-475-7552
Zachary Tramonti, 617-391-0797
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