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The Halifax Group Announces Sale of Majority Stake in TriMech
Tuesday, March 22, 2022
WASHINGTON, March 14, 2022 /PRNewswire/ -- Leading middle-market private equity firm The Halifax Group ("Halifax") announced today it has sold a majority stake in TriMech, a leading provider of engineering design and advanced manufacturing solutions, to Sentinel Capital Partners. Halifax, which acquired TriMech in January 2020, will maintain a minority investment in the company and continue to support its growth. CEO Marcel Matte and the existing management team will continue to lead the company post transaction. Additional terms of the transaction were not disclosed.
David Bard, Partner at Halifax, commented, "We have greatly enjoyed working with Marcel and the TriMech team to support the company's development into a leading platform serving the most sophisticated engineering and manufacturing companies in North America. Working together, we were able to expand TriMech's solution offering into new products and services as well as new geographies, creating a more complete solution provider for TriMech's customers. The advanced engineering and manufacturing sector is seeing significant growth, and we believe the company is well-positioned to meet a wide array of customer needs through its innovative products, best-in-class service, and operational excellence."
Headquartered in Richmond, VA, TriMech sells and services engineering- and manufacturing-related software and additive manufacturing hardware and offers a wide array of complementary engineering, training, implementation, staff augmentation and advanced manufacturing services through its world-class engineering staff. The company partners with the leading providers Dassault Systèmes and Stratasys, among others, throughout the eastern half of the United States and Canada.
Mr. Matte said, "We are grateful for Halifax's partnership and significant investment of resources to support our continued growth. Their strategic and operational collaboration has allowed us to expand and refine our solution offering, revamp our go-to-market strategy and accelerate strategic acquisitions, positioning TriMech for continued growth in the future."
Davis Hostetter, Halifax Principal, added, "TriMech's solutions provide its customers with cutting-edge technology to design and manufacture their next great product and compete in today's markets. We are proud of our partnership with TriMech and wish the entire TriMech team continued success in its next chapter."
Piper Sandler served as financial advisor, Stifel served as co-financial advisor, and Arnold & Porter, Perkins Coie and Borden Ladner Gervais served as legal advisors to Halifax and the Company.
About TriMech
Founded in 1998 and headquartered in Richmond, VA, TriMech is a leading technology and business solutions partner for designers, engineers, and manufacturers. Its experts provide computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services for clients across a variety of industries. Its tools support 3D modeling, simulation, virtual replication, collaboration, as well as data management, configure-price-quote automation, product lifecycle management, and enterprise resource planning. The company has 37 locations across the central and eastern U.S. and Canada and serves more than 15,000 active clients. For more information, 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.
Contact for Halifax:
Caroline Luz
Lambert & Co.
203-656-2829
cluz@lambert.com
View original content:https://www.prnewswire.com/news-releases/the-halifax-group-announces-sale-of-majority-stake-in-trimech-301501737.html
SOURCE The Halifax Group
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