- The sale was negotiated with the support of Price Bailey’s SCF department
- SCF Partner Phil Sharpe explains more
Tailored technology service provider Root Solutions Ltd. announced that it has joined PDSVISION Group in a move that sees the Swedish entity expand its UK operations.
The Cambridge-based technology company, Root Solutions, provides engineering-based software to companies across the UK. This includes Computer Aided Design, Augmented Reality (AR) and Product Lifecycle Management (PLM). These solutions help clients improve their engineering processes and product quality and is backed up by comprehensive technical support and training.
PDSVISION are a global provider of solutions and services focused on enabling their digital transformation journey from product development to aftermarket services. PDSVISION’s solutions are centred on the portfolio of products provided by NASDAQ listed PTC and ANSYS. PDSVISION also develop their own range of software applications. The group is headquartered in Sweden and has operations in Finland, Denmark, Norway, Germany, United Kingdom, South Africa and the USA.
Roger French Co-Founder and Managing Director of Root Solutions commented, “Root Solutions and PDSVISION complement each other perfectly. We have the same business goals and same team culture. We will now be part of a global organisation in which our collective know-how and experience will give customers an even broader solution portfolio and fuel future growth. It is the foundation of a strong partnership which will benefit both customers and employees.”
Johan Klingvall, CEO of PDSVISION said, “This acquisition strengthens our position in UK and allows PDSVISION to continue the growth of the services we provide as part of the continued expansion of our global footprint. There are clear synergies in combining our services and winning cultures, not only to continue supporting our customers, but to also develop a deeper understanding of how we can enhance the services and support we provide. I am excited to continue the journey together with our new UK colleagues.”
Price Bailey’s SCF Partner Phil Sharpe helped negotiate the sale commented: “We are thrilled to have had the opportunity to advise on the sale of Root Solutions. We started this journey with the shareholders, Roger and Mark, four years ago, having advised them on the sale of sister company Innova. When they decided to sell Root Solutions we were delighted that they asked for our help again. The deal has delivered a positive outcome for all parties involved and again demonstrates how successful local businesses are achieving international recognition.”
Roger French commented further, “Anyone considering the sale of their business should get advice from an experienced professional. Even if you have already received an approach or offer there is a lot of work and complexity in getting the deal completed. Phil Sharpe and his team at Price Bailey were a perfect partner to walk that journey with us. Your guidance and experience was vital but more than that it was a pleasure working with the Price Bailey team.”
Mark Bradford, co-founder added, “We are extremely grateful for your ability to make a complex process understandable for us and helping to get the transaction done. It has been an enjoyable process with your team by our side. This is the second transaction you’ve completed for Roger and I over the past few years and we’ve been very happy with both outcomes. We really appreciate the support you have given us throughout the process.
NOTES TO EDITORS
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About Price Bailey
Price Bailey is a top 30 accountancy practice specialising in providing accountancy and business advice to enable the growth of regional, national and international businesses. In addition to traditional accounting services, the firm has a range of specialists in many areas, which combine to provide a complete, integrated business offering. These include tax consultancy, corporate finance, strategic planning, insolvency & recovery and employment law.
About Root Solutions
Established in 1992, Root Solutions is the largest and longest-standing PTC partner in the UK providing software, support, training & services relating to PTC’s product suite. With over 30 employees, Root Solutions serve a thriving customer community of over 500 active customers across the UK.
PDSVISION is one of the leading advisors within the product development sectors. PDSVISION’s solutions are centred on the portfolio of products provided by PTC Inc. and ANSYS Inc. These are focused towards the areas of 3D Design (CAD), Product Lifecycle Management (PLM), Service Lifecycle Management (SLM), Internet of things (IoT), Augmented Reality (AR) and Simulation (CAE). PDSVISION develop their own range of software applications to add extra capabilities to further enhance utilization for the main solutions it offers.
The group is projecting sales in 2021 of ca €55 million, is headquartered in Sweden and has operations in Finland, Denmark, Norway, Germany, United Kingdom, South Africa and the USA.
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