Software firm Solid Solutions has been sold by its private equity backer.
LDC has exited the Leamington Spa-based firm which is a reseller of 3D design software, selling its stake to TriMech, a US-based technology and business services partner for designers, engineers and manufacturers.
Founded in 1998, Solid Solutions supports a community of more than 16,000 customers across the UK and Ireland which includes product designers, mechanical engineers, manufacturers and educational institutions.
It provides an extensive range of 3D CAD and computer-aided manufacturing software tools as well as training and support services.
LDC, which is the private equity arm of Lloyds Bank, backed the company's management team in 2020, led by founder Alan Sampson, chief technical officer Simon Turner and chief systems officer Kathy Sampson.
The firm supported Solid Solutions to acquire Design Rule and Desktop Engineering last year and also helped it pivot more of its training sessions to online skills development events which resulted in additional customers adopting more advanced software products.
Over the past two years, Solid Solutions' revenue has grown by more than 35 per cent up to £73 million in its latest financial year and now employs more than 250 people.
TriMech will now support the next stage of Solid Solutions' growth, with Mr Sampson becoming president of TriMech's UK and European business while the wider management team will remain in place.
LDC partner Rob Schofield said: "Our partnership with Solid Solutions is a fantastic example of how private equity investment can support a founder-owned family business to realise its growth plans.
"Its success is down to the hard work of the management team and its employees. This transaction finds a good home for the business and represents an excellent outcome for everyone at Solid Solutions. We wish them all the best for the future."
Full terms of the deal were not disclosed. Advisers were Alantra and Gowling WLG.
