Bechtle, a prominent German technology company, has acquired Cheshire-based software firm DriveWorks for an undisclosed sum, marking a significant expansion in its portfolio.
- DriveWorks specialises in automation and 3D configuration software for the manufacturing sector, strengthening Bechtle’s offerings substantially.
- The acquisition aligns with Bechtle’s commitment to enhancing efficiency and innovation within its engineering solutions.
- DriveWorks’ founders are set to remain, ensuring continuity as the business transitions under Bechtle’s ownership.
- BGF exits DriveWorks following a successful investment period, achieving notable financial returns.
Bechtle, a leading figure in the global technology sector, has recently acquired DriveWorks, a Cheshire-based software firm with a turnover of €6.5 million (£5.4 million). This strategic acquisition remains undisclosed in terms of its financial specifics. The acquisition underscores Bechtle’s drive to enhance its technological capabilities by integrating DriveWorks’ specialised expertise in design automation and 3D sales configuration software, a critical component for manufacturers and engineering firms worldwide.
DriveWorks, founded in 2001 by Glen Smith and Maria Sarkar, employs 59 individuals from its base in Thelwall. The company’s offerings focus on Design Automation, 3D Visualisation, Product Configuration, and CPQ (Configure, Price, Quote) solutions, which are increasingly demanded in the industrial sector. Sarkar expressed enthusiasm about the merger, emphasising a shared mission to deliver high-quality technology globally.
Bechtle’s Executive Vice President, Uwe Burk, highlighted the strategic importance of acquiring DriveWorks, noting their longstanding relationship and the quality of their software. He remarked on the significance of design and custom configuration automation in boosting efficiency and opening new business opportunities.
The transition sees Smith and Sarkar stepping down from leadership roles to allow succession by current Commercial Director, Mark Sarkar, and Chief Technology Officer, Philip Stears. Bechtle intends to maintain DriveWorks as an independent entity, focused exclusively on serving Solidworks resellers across 54 countries, with international operations in Australia and the USA, as well as employees in France and India.
The deal also marks the exit of BGF, which invested £4 million in DriveWorks in 2021. Since then, the company has more than doubled its revenue. BGF’s investor, Harry Jones, noted the positive return on investment, achieving a money multiple of 2.7x and an IRR of 32%. The investment facilitated significant growth and succession planning, positioning DriveWorks as an attractive acquisition target.
The acquisition of DriveWorks by Bechtle exemplifies strategic growth and investment success, setting a promising course for future innovation and expansion.
