CIVC Partners Announces Sale of Computer Aided Technology, Inc. to GoEngineer
CHICAGO, IL —August 25, 2022 CIVC Partners, a middle market private equity firm focused on business services companies, announced today that its portfolio company, Computer Aided Technology, Inc. (“CATI”), has been acquired by GoEngineer, a portfolio company of Court Square Capital Partners. Additional terms of the transaction were not disclosed.
Founded in 1992 and headquartered in Chicago, CATI is a leader in the CAD and additive manufacturing solutions space, with over 30 years of experience in product development solutions designed to deliver unique services and innovative technologies to customers. CIVC Partners invested in CATI in April of 2019.
“We are excited for CATI to join the GoEngineer organization. We have known the GoEngineer team for a long time and have always been impressed by their dedication to client service and their strong team with deep engineering expertise,” said Rich Werneth, President of CATI. “This combination will allow CATI and GoEngineer to better serve our customers and key technology partners across the U.S.”
With over 35 years’ experience, GoEngineer provides best-in-class design solutions to customers in the high tech, medical, machine design, and energy industries. These services are carefully selected for their ease-of-use, manageability, and ability to integrate with third-party platforms that help to unlock innovation and deliver better products faster. GoEngineer was acquired by Court Square Capital Partners in December 2021.
“The sale of CATI to GoEngineer marks the end of a successful investment in CATI dating back to 2019,” said John Compall, Partner at CIVC Partners. “We’d like to thank Rich Werneth, Rod Levin and the entire CATI team for their efforts and partnership over the past few years. The combination of GoEngineer and CATI creates a clear market leader in the 3D design and engineering space. We are excited to see where the combined company goes from here.”
“CIVC was instrumental in helping CATI achieve its growth goals, including the execution of two highly strategic acquisitions, continued investment in sales and engineering talent, and valuable strategic guidance,” added Rod Levin, Partner at CATI.
Lincoln International served as financial advisor and Kirkland & Ellis as legal counsel to CATI. Lazard served as financial advisor and Dechert as legal counsel to GoEngineer.
CATI is a product development solutions provider empowering the innovators solving America’s engineering and manufacturing challenges. Since 1992, CATI has been helping clients succeed through innovation. Led by industry experts and with the help of their portfolio of software, 3D printing, 3D scanning and metrology, PDM and PLM, design automation, and implementation solutions, CATI helps customers reinvent their businesses and stay ahead of the competition. For more information on CATI, please visit www.cati.com
About CIVC Partners
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services sector. Since 1989, the team has invested $1.9 billion in 73 platform companies and currently invests from CIVC Partners Fund VI. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.