Bechtle’s acquisition of DriveWorks marks a significant expansion in the tech sector.
- The acquisition involves the successful North West tech firm, DriveWorks, known for its design automation and 3D sales configuration software.
- DriveWorks’ growth was catalysed by a previous investment from BGF, resulting in doubled revenues and increased market presence.
- This strategic acquisition allows Bechtle to enhance its portfolio with DriveWorks’ specialised technology, catering to a global clientele.
- Key figures at DriveWorks will transition leadership roles, maintaining operational continuity and strategic vision.
In a significant strategic move, Bechtle, a well-established German technology firm, has acquired DriveWorks, a leading provider of design automation and 3D product configuration software. DriveWorks, headquartered in Thelwall, Cheshire, has made a name for itself in the manufacturing and engineering sectors, showcasing a turnover of €6.5 million (£5.4 million).
Founded in 2001 by Glen Smith and Maria Sarkar, DriveWorks has grown to employ 59 staff members, establishing a robust presence in its field. The co-founders express enthusiasm about the acquisition, stating their alignment with Bechtle’s vision and dedication to technological innovation. Sarkar emphasised the potential for growth and expanded reach by leveraging Bechtle’s resources and market position, underscoring the strategic nature of this acquisition.
The acquisition price remains undisclosed, yet it represents a pivotal moment for both firms. Bechtle has been a long-standing collaborator, as it has been selling DriveWorks’ technology solutions for years. Uwe Burk, Executive Vice President at Bechtle, praised DriveWorks for its exceptional quality and its pivotal role in boosting customer efficiency through automation and custom configurations.
Leadership at DriveWorks will shift as Glen Smith and Maria Sarkar pass on management responsibilities to their successors, Mark Sarkar and Philip Stears. Bechtle asserts that DriveWorks will continue to operate independently, focusing on serving Solidworks resellers across 54 countries, ensuring that the technological expertise and customer base remain intact.
BGF’s previous investment in DriveWorks has facilitated remarkable growth, doubling the firm’s revenues and enhancing its market value. Investor Harry Jones regards the acquisition as a testament to DriveWorks’ strategic development and successful partnership, which has yielded substantial returns and set the company on a promising trajectory.
The acquisition is anticipated to further enhance Bechtle’s service offering while continuing DriveWorks’ legacy of innovation in design automation and configuration software.
