Bechtle, a prominent German technology company, has acquired Cheshire-based DriveWorks, renowned for its design automation software.
- DriveWorks, founded in 2001, offers key technology solutions for the manufacturing and engineering industries, employing 59 staff.
- Maria Sarkar of DriveWorks expressed enthusiasm about the partnership, highlighting shared values in technology excellence.
- Bechtle plans to maintain DriveWorks’ operational independence, focusing on Solidworks resellers across 54 countries.
- The acquisition concludes with BGF’s exit, a previous investor that significantly contributed to DriveWorks’ growth.
Bechtle, a major player in the technology sector, has recently finalised its acquisition of Cheshire-based DriveWorks, a company valued at approximately £5.4 million. This strategic move involves a firm well-known for its specialised design automation and 3D sales product configuration software, pivotal to the manufacturing and engineering sectors.
DriveWorks, established in 2001 by Glen Smith and Maria Sarkar, employs a team of 59 at its base in Thelwall. Over the years, it has made a name for itself by delivering critical technology solutions that enhance operational efficiency and support business model innovation. Co-founder Maria Sarkar voiced her excitement about joining forces with Bechtle, emphasising the shared commitment to providing top-tier technology and valuing the people behind these innovations.
The integration with Bechtle is projected to significantly augment DriveWorks’ outreach and capability. As a company with a €6 billion turnover, Bechtle has long been familiar with DriveWorks’ offerings, having sold its add-on software extensively. Uwe Burk, Executive Vice President at Bechtle, praised DriveWorks’ quality and foresaw the merger as a significant addition to Bechtle’s suite of offerings, crucial for future advancements in design automation and custom configurations.
Glen Smith and Maria Sarkar will transition leadership to their successors while remaining with the firm. DriveWorks will continue to function as an independent entity, maintaining its service to Solidworks resellers in a substantial international market, including two subsidiaries in Australia and the USA. This operational independence reflects Bechtle’s strategic approach to preserve DriveWorks’ business ethos while expanding its technological horizons.
This acquisition also marks the exit of the growth-focused investor BGF, which initially invested £4 million in DriveWorks in 2021. This investment catalysed a doubling of DriveWorks’ revenues and supported its expansion plans. BGF’s exit yields a 2.7x return on their investment, illustrating the successful trajectory of DriveWorks under their investment model. With this move, both companies are poised for future growth, benefiting from their enhanced synergies.
The acquisition of DriveWorks by Bechtle represents a significant consolidation in the technology sector, promising advancements in design automation globally.