PE-backed TriMech acquires Adaptive Corp and Forward Vision

TriMech, which is backed by The Halifax Group, has made two acquisitions: Adaptive Corporation and Forward Vision. No financial terms were disclosed. Sampford Advisors Inc. acted as M&A advisor to Adaptive Corporation on the deal. Adaptive Corporation is a “digital to physical” product lifecycle company and Forward Vision is a provider of simulation software and services.

PRESS RELEASE

RICHMOND, Va., Nov. 4, 2021 /PRNewswire/ — TriMech, a leading provider of engineering design and additive manufacturing solutions, announced today it has acquired Adaptive Corporation and Forward Vision. Terms of the transaction were not disclosed. TriMech is a portfolio company of The Halifax Group, a Washington, D.C.-based private equity investor.
Headquartered in Richmond, VA, TriMech helps clients design better products via a broad suite of engineering- and manufacturing-related solutions and services. The company works with leading software and hardware partners including Dassault Systèmes, Stratasys, and Artec, among others, throughout the central and eastern United States and Canada. In addition to its product portfolio, TriMech delivers expert technical support, training, consulting, implementation, additive manufacturing, and staffing services to its customers through its world-class engineering staff.

The acquisitions of Adaptive Corporation and Forward Vision expand TriMech’s Dassault Systèmes portfolio offering to include CATIA, DELMIA, SIMULIA and ENOVIA. Adaptive is known for its strong capabilities in advanced CAD and simulation, product lifecycle management (PLM), metrology, and Creaform portable 3D scanners. The Forward Vision team specializes in CATIA, DELMIA, and FlexSim and has expertise in robotics, ergonomics, factory scheduling, throughput simulation, and logistics workflows. Both companies have clients in transportation and automotive, aerospace and defense, and industrial equipment.

Marcel Matte, President and CEO of TriMech, said, “We aim to be our clients’ trusted technology partners. By bringing together great teams with new product offerings and expertise, TriMech will deliver wider solutions and deeper industry knowledge. Growth by acquisition is part of our long-term strategy to help our clients manage rapid digital transformation.”
Adaptive will continue to operate under the name Adaptive — A TriMech Company. The Forward Vision team will join Adaptive’s sales and support teams

Senior management at Adaptive and Forward Vision will remain in place. Wayne Tanner, Adaptive’s President, will serve as General Manager of Adaptive — A TriMech Company, reporting to Ted Lee, TriMech’s Chief Services Officer. Forward Vision’s President Joe Hugan and Vice President John Moran will serve as Product Managers for TriMech’s Robotics and Discrete Event Simulation teams, continuing to support clients with their existing teams.

As part of these acquisitions, TriMech also announced it is acquiring the Dassault Systèmes and EASA Software clients of Front End Analytics. These clients will now be supported by the experienced team at Adaptive and TriMech. After transitioning these clients, Front End Analytics will continue as an independent business focused on its Physics Informed Machine Learning and AI solutions.

Adaptive’s President Wayne Tanner said, “The demand for increasingly sophisticated technology has accelerated as engineers and manufacturers introduce or improve products to meet market needs. Our combined client base will have access to more solutions that involve critical areas of their business.”

Sampford Advisors Inc. acted as exclusive M&A advisor to Adaptive Corporation.

Forward Vision President Joe Hugan commented, “We have always thrived by working closely with each other and with our clients. As part of TriMech, our people will have more opportunities to collaborate, learn, and grow, making us better able to meet our clients’ needs and ensure their success.”

About TriMech
Founded in 1998 and headquartered in Richmond, VA, TriMech provides computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, and staffing services for a variety of industries. Its tools support 3D modeling, simulation, virtual replication, collaboration, and information intelligence applications. The company has 32 locations across the central and eastern U.S. and Canada and serves more than 15,000 active clients. For more information, please visit www.trimech.com.

About The Halifax Group
Founded in 1999, The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow lower middle-market businesses with total enterprise values generally between $50 million and $300 million. Halifax specializes in equity recapitalizations, corporate carve-outs and management buyouts and invests across a variety of industries, including outsourced business services, health and wellness, and franchising. The firm is headquartered in Washington, D.C. For more information, please visit www.thehalifaxgroup.com.