The Halifax Group Invests in TriMech, a Leading Provider of Engineering Design Solutions
Recapitalizes Platform in the Growing Engineering Design and Additive Manufacturing Sectors
WASHINGTON, Jan. 7, 2020 /PRNewswire/ -- The Halifax Group ("Halifax") announced today it has completed an investment to recapitalize TriMech ("TriMech" or "the Company"), a provider of computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, and staffing services for a variety of industries. Halifax is partnering with TriMech's founder, Steve Pelham, and the Company's management team, which will continue to lead the Company after the transaction. Prior to the transaction with The Halifax Group, TriMech was a portfolio company of McCarthy Capital. Terms were not disclosed.
Headquartered in Richmond, VA, TriMech sells and services engineering software, 3D printers and consumables, 3D scanners, and other engineering and manufacturing-related offerings. The Company partners with the leading providers, Dassault Systèmes and Stratasys, among others, throughout the central and eastern United States, and delivers expert technical support, training, consulting, implementation, and staffing services to its customers through its world-class engineering staff.
Marcel Matte, TriMech's CEO, said, "We have enjoyed significant acclaim over our 20 years in business thanks to the dedication and hard work of our talented employees and enduring commitment to our customers. Our new partners at Halifax share our passion for operational excellence and customer service, and their support will ensure our continued ability to invest in the innovative products and value-added services that set TriMech apart."
David Bard, Managing Director at Halifax, said, "Engineers across organizations, from global multi-nationals to local firms, are counting on great partners like TriMech to help them employ increasingly complex software applications and products. TriMech is filling a crucial need in the knowledge economy, and we are pleased to partner with this impressive TriMech team as they build on their proven approach to ensuring their customers' success."
"Working with the wonderful team at TriMech has been a great experience," said Bob Emmert, Partner at McCarthy Capital. "We wish them continued growth and all the best in the future."
Piper Sandler Companies acted as the exclusive financial advisor for TriMech, working closely with the Company's management team and shareholders.
About TriMech
Since 1998, TriMech has helped clients design better products by offering a complete engineering solution – including but not limited to the entire SolidWorks product lineup, Stratasys 3D printers, Artec 3D scanners, CAMWorks and other engineering services. Headquartered in Richmond, VA, the company maintains a 250-person engineering team that provides world-class technical support, robust training, rapid prototyping, consulting, implementation and staffing services to its clients. For more information about TriMech, 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.
About McCarthy Capital
McCarthy Partners Management, LLC is a registered investment advisor that conducts business as McCarthy Capital. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies. For more than 30 years, the McCarthy organization has been partnering with founders, families, and exceptional management teams to support the growth of their companies. More information about McCarthy Capital can be obtained at www.mccarthycapital.com.
Contact for Halifax:
Caroline Luz
Lambert & Co.
203-656-2829
[email protected]
[email protected]
SOURCE The Halifax Group
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