BGF pumps £8m into Solid Solutions Management Ltd

BGF pumps £8m into Solid Solutions Management Ltd

The Business Growth Fund (BGF) has invested £8m into Leamington Spa-based Solid Solutions Management Ltd to help bring its ambitious growth plans to life.

Solid Solutions provides a range of 3D computer aided design (CAD) software tools, training and support and boasts an annual turnover of £30m.

Founded in 1998 by managing director Alan Sampson and technical director Simon Turner, the business has experienced strong growth and is now the UK & Ireland’s leading reseller of SolidWorks, the 3D CAD software package owned by Dassault Systèmes.

BGF’s investment is being used to support the continued growth of the core business, expand its bespoke offering, and facilitate the acquisition of Derbyshire based Cadtek, the UK & Ireland’s third largest SolidWorks reseller.

The acquisition adds both scale and capacity benefits, and allows customers to benefit from an even wider product and service offering, plus easier access to training by adding Cadtek’s eight UK training centres to the 15 already operated by Solid Solutions.

Alan Sampson, managing director of Solid Solutions, said: “BGF’s investment allows us to accelerate the growth plans for the business by increasing our scale. We are experiencing growing demand for the products and training we provide, and are delighted that we are positioned to respond to this demand with the backing of a supportive equity partner.”

James Syrotiuk, an Investor at BGF who will sit on the board of Solid Solutions, said: “There remains a lot of opportunity for Solid Solutions in the 3D CAD market. Alan, Simon and their management team are passionate, knowledgeable and committed to growing the business. We are pleased to be supporting the company as it continues to pursue these opportunities.”

As part of the investment, Colin Garrett has been appointed as non-executive chairman of Solid Solutions.

Colin is currently chairman of several other businesses including Centiq Ltd, Impero Software Ltd and Silverwing Ltd.