TriMech

Company Overview

Founded in 1998 and headquartered in Richmond, VA, TriMech is a leading technology and business solutions partner for designers, engineers, and manufacturers. The company provides computer-aided design and engineering software, additive and subtractive manufacturing solutions, and associated training, consulting, implementation, and staff augmentation services for clients across a variety of industries. Its global team excels in design, simulation and analysis, process and workflow optimization, product data management, lifecycle management, manufacturing, and production floor solutions.

Opportunities

• Partner with founder and management team to recapitalize the business from existing minority private equity investor and become TriMech’s first majority private equity owner
• Work with management to transition the business from a leading channel partner with best-in-class OEMs to a comprehensive advanced engineering and manufacturing solution partner to its customers

Key ValuFactors Initiatives

• Developed strategy to expand existing product and service offering across new geographies
• Invested in people and platform to support scalable growth, including adding several new and expanded executive roles and introducing new CRM platform and ERP platform
• Revamped go-to-market strategy to drive new customer acquisition, increase cross-selling and deepen customer engagement to accelerate organic growth
• Built internal M&A capability to support expansion into adjacent addressable products and services, add new geographies, and expand customer base
• Completed seven strategic add-on acquisitions across the U.S. and Canada

Outcome

Halifax and management grew the business from a large, but regional player focused on the Central and Eastern US into a leading North American provider with strong presence in both the US and Canada. During Halifax’s ownership period enhanced TriMech’s product offering, added meaningful service capabilities, and broadened the company’s geographic footprint. Ultimately, the company grew EBITDA by approximately 67%.

In March 2022, Halifax successfully exited the investment through a majority sale to management and a financial sponsor. The management team continues to own a meaningful equity position and operate the business following the sale. Halifax retained a minority stake in the Company.