Bechtle has dipped into the mergers and acquisitions (M&A) market to deepen its position in the UK, making a second purchase in a fortnight to add more skills, staff and customers.
Having already been active in the M&A space this month, it has identified software developer and automation specialist DriveWorks as an ideal addition to the business.
DriveWorks operates from an office near Manchester, employing 59 staff and reporting revenues of €6.5m in its 2023/24 fiscal year. The firm’s software is a complementary product for Solidworks 3D CAD.
The firm serves a manufacturing customer base with software it has developed that delivers 3D visualisation, CAD automation, workflow and integration capabilities.
Bechtle is no stranger to the firm – it has been selling iDriveWorks CAD software for years and is aware of both its technology and management.
Following the deal, the terms of which were not disclosed, DriveWorks’ two founders, Maria Sarkar and Glen Smith, will remain with the company but hand over the day-to-day running of the company to the current commercial director Mark Sarkar and chief technology officer Philip Stears.
The expectation is that the combined forces will be able to achieve sustainable future growth and take advantage of cross-selling opportunities.
“I am particularly pleased with this acquisition as I’ve been a fan of DriveWorks’ fantastic quality for years. For our customers, automating design and custom configurations are key to boosting efficiency and establishing new business models,” said Uwe Burk, executive vice-president for
product lifecycle management
“DriveWorks has developed an outstanding application that will be hugely important in the future and stands for a great addition to the Bechtle portfolio,” he added.
Bechtle will run DriveWorks as an independent operation that will continue to serve a global customer base that looks to the firm for specialist software and services. The firm runs subsidiaries in the US and Australia, which will be retained, and has employees in India and France.
In response, Maria Sarkar, vice president and co-founder of DriveWorks, said the tie-up would be a positive move for its staff and customers.
“We share the same drive, passion and commitment to delivering exceptional technology to manufacturers worldwide, while valuing the people who make it all possible,” she said.
“The demand for design automation, 3D visualisation, product configuration, and CPQ solutions is growing rapidly. Together with Bechtle, we will extend the benefits of DriveWorks technology to further support our customers’ success,” Sarkar added.
Bechtle has a taste for UK acquisitions, having picked up Qolcom earlier this month. The latest couple of deals come in the wake of other moves the firm has made to widen its reach, including buying London-based Tangible Benefit last March, which followed the decision four months earlier to buy ACS Systems as the firm continued to grow its UK business.
Bechtle first arrived in the UK in 1997, where it has since been expanding through acquisitions. With DriveWorks added to the mix, it now employs 430 staff across six sites in the country.