Compusoft and 2020 are to be combined in a 'merger of equals' that will create a leading provider of space planning and manufacturing solutions for the residential and commercial segments, it has been revealed. Genstar Capital and TA Associates have announced that they have signed an agreement to merge their portfolio companies in a transaction expected to be completed in the second half of this year.
Compusoft is a portfolio company of TA Associates, a leading global growth private equity firm that invested in Compusoft in 2018. 2020 is a portfolio company of Genstar Capital, a leading private equity firm focussed on investments in targeted segments of the financial services, healthcare, industrials and software industries that recently acquired 2020. The newly combined company will be majority owned by Genstar and TA.
Mark Stoever, CEO of 2020, said: “The merger of Compusoft and 2020 positions the combined company as a trusted provider whose suite of solutions supports designers, manufacturers and retailers. This is a transformative transaction and the support from Genstar and TA will enable us to invest in the business, new technologies and our people. We look forward to completing the transaction so we can continue to build on our companies’ unwavering commitment to innovation and customer service.”
David Tombre, CEO of Compusoft, said: “We are excited by the opportunity this combination presents to create a leading provider of vCPQ [visual Configure, Price, Quote] solutions for home and commercial spaces. Given Compusoft’s presence in Europe and 2020’s presence in North and South America, the two businesses are truly complementary. Our priority remains our customer’s success and together we will provide an enhanced offering across support, content, innovation and technology.”
