WASHINGTON, Nov. 25, 2019 /PRNewswire/ -- Anzu Partners, a venture capital and private equity firm that invests in breakthrough industrial technologies, announced today that its portfolio company MultiMechanics has been acquired by global technology company Siemens. MultiMechanics is the developer of MultiMech, a material modeling and simulation software tool that helps companies accelerate the product development lifecycle by virtually predicting failure in advanced materials at an unprecedented level of speed and accuracy.
"We are grateful to Anzu Partners for its support and close partnership over the past two years," said Leandro Castro, Co-Founder and Chief Executive Officer. "The technical guidance and operational support from the Anzu team, since the time of the firm's investment in 2017, has been incredibly valuable to MultiMechanics' growth as a company."
MultiMechanics will be integrated into Siemens Digital Industries Software, and its software platform incorporated into Siemens' Simcenter™ software, within its Xcelerator portfolio, implementing materials engineering into the digital workflow and establishing a pervasive link between material developers, manufacturing process developers and part designers.
"It has been a rewarding experience to work with the MultiMechanics team, and fellow investors Solvay, to drive the company's growth," said Gray Robinson, Senior Associate at Anzu Partners, who served on the MultiMechanics Board of Directors from 2017 until its acquisition by Siemens. "Today's announcement is the beginning of a new and exciting chapter for MultiMechanics and we are delighted to see its integration into Siemens."
"MultiMechanics demonstrates that breakthrough industrial technologies are coming from cities in the heartland like Omaha, Nebraska," said Whitney Haring-Smith, Managing Partner at Anzu Partners. "Anzu continues to focus its investments on commercializing industrial innovations from all over the US and Canada, and MultiMechanics is a great example of this strategy succeeding."
The terms of the deal were not disclosed.
For more information about MultiMechanics and its MultiMech software platform, please visit: https://multimechanics.com.
MultiMechanics develops multiscale material modeling and simulation software that virtually predicts failure in advanced materials at an unprecedented level of speed and accuracy. In 2017, MultiMechanics raised its seed funding round of $1.9 million from a co-investment led by Solvay Ventures. MultiMechanics was founded in 2010 and is based in Omaha, Nebraska.
About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com. On Twitter: @anzupartners.
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SOURCE Anzu Partners