Clairfield advise on the sale of Theorem Solutions to US headquartered Tech Soft 3D
Clairfield has advised leading engineering software solutions provider, Theorem Solutions (“Theorem”), on its sale to US headquartered Tech Soft 3D, backed by Battery Ventures. Theorem provides a suite of CAD Translation and Extended Reality Software Solutions, including 3D Visualization and Digital Twin, for the engineering metaverse. Theorem, established in 1991, has a long-standing blue-chip client base which include Ford, Land Rover, Airbus, Rolls Royce and BAE Systems. Theorem is headquartered in Staffordshire, UK, with offices in the USA.
Tech Soft 3D, is a leading provider of engineering software development toolkits, with offices in the USA, France, England, Japan and Norway. The company’s toolkit products power more than 700 unique applications running on hundreds of millions of computers worldwide. The acquisition cements Tech Soft 3D’s position as the leading provider of CAD Data Translation and Re-use for both application developers and end-users.
Mark Stowe, CEO of Theorem said, “We share the vision with Tech Soft 3D on how to extend the value of 3D data for manufacturing enterprises. We are extremely excited about what we can achieve together.”
Mark Stowe also added “The Clairfield Team provided invaluable advice and supported us at every stage of the sale process. Their deep understanding of the software sector helped us achieve a fantastic result.”
Clairfield worked closely with Theorem to prepare the business for a sale and position Theorem in order to maximise shareholder value. The Clairfield team was led by Partner, Shah Zaki and Associate Director, Nick Wall.
Shah Zaki added “This transaction further demonstrates Clairfield’s ability to complete cross border transactions, achieving the best results for our clients. We are delighted to have assisted the shareholders of Theorem in finding a new owner with a strategic fit.”
Freeths LLP provided legal advice to the company’s shareholders. Ateeq Ahmed, Director in the Corporate team, led the transaction with support from corporate colleagues, Lee Clifford (Client Partner), Shailen Hinglajiya and Tahmina Hussain.