Mangrove Equity Partners has sold CATI to CIVC Partners
Lincoln worked closely with Mangrove and the CATI management team throughout the sale process. This role included providing M&A and industry expertise, as well as managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
Mangrove Equity Partners first partnered with management in 2015 with the goal of building CATI into one of the leading providers of 3D design and engineering solutions across the product development continuum. These solutions include 3D CAD, 3D CAE, PDM and PLM software, 3D printing and scanning hardware, and other related technologies, as well as consulting, training and support services. CATI is the oldest partner in North America to leading design software provider Dassault Systèmes SolidWorks, and carries the highest partner designation with leading 3D printing manufacturer Stratasys. These key vendors are increasingly reliant upon on their relationships with sophisticated, value-added channel partners like CATI as market demand for their solutions continues to expand beyond product development into other applications such as complex, additive manufacturing, positioning CATI for long-term growth. Mangrove’s investment in CATI included the completion and integration of two add-on acquisitions that more than doubled the size of the business and further diversified its broad customer base.
Rich Werneth, President of CATI, said, “We were searching for a new partner with similar attributes as Mangrove, specifically a partner that was a strong cultural fit, shared a vision with the team and that would be a steward of growth moving forward. Lincoln’s deep industry knowledge, strong execution expertise and thoughtful guidance led us to an ideal outcome with CIVC.”
About Mangrove Equity Partners
Mangrove Equity Partners works hard to be your go-to private equity fund in the lower middle market by leveraging extensive experience to create solutions and get deals done. Mangrove’s four-man internal operating team allows the firm to work through complexity and help owner/operators build enduring value. Mangrove has completed 140+ deals in 60+ industries. More information on Mangrove Equity Partners can be found at www.mangroveequity.com.
About CIVC Partners
CIVC Partners is a Chicago-based private equity firm investing in high growth middle market companies in the business services and financial services sectors. Since 1989, the team has invested $1.7 billion in 64 platform companies and currently invests from CIVC Partners Fund V. More information on CIVC Partners can be found at www.civc.com.
Lincoln did a tremendous job of understanding all stakeholders’ objectives and running an efficient process to optimize the outcome.
Meet our Senior Team
The transactions we work on are often trajectory-altering, with high stakes and pressure to get it right. We know our work, however challenging in the moment, is going to be impactful.
Mike Iannelli
Managing Director & Co-head of Business Services
Chicago
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