CAD suppliers Compusoft and 2020 are set to merge to create a “leading provider of space planning and manufacturing solutions for the residential and commercial segments.”

The group will offer an end-to-end suite of planning, design, visualisation, configuration, pricing, quoting, ERP and manufacturing solutions.

It will cover the kitchen, bathroom, office and residential furniture, as well as commercial and residential windows and doors segments.

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The combined workforce of Compusoft and 2020 will benefit from more than 65 years of experience in customer service, catalogue content and technology.

Compusoft is a portfolio company of TA Associates, a global growth private equity firm.

2020 is a portfolio company of Genstar Capital, a private equity firm focused on investments in the financial services, healthcare, industrials and software industries.

The newly-combined company will be majority owned by Genstar and TA.

Chief executive officer of 2020 Mark Stoever said: “The merger of Compusoft and 2020 positions the combined company as a trusted provider whose suite of solutions supports designers, manufacturers and retailers.

“This is a transformative transaction and the support from Genstar and TA will enable us to invest in the business, new technologies and our people. We look forward to completing the transaction so we can continue to build on our companies’ unwavering commitment to innovation and customer service.”

David Tombre, chief executive officer of Compusoft, commented: “We are excited by the opportunity this combination presents to create a leading provider of vCPQ solutions for home and commercial spaces.

“Given Compusoft’s presence in Europe and 2020’s presence in North and South America, the two businesses are truly complementary.

“Our priority remains our customer’s success and together we will provide an enhanced offering across support, content, innovation and technology.”

Founded in 1989, Compusoft is headquartered in Sarpsborg, Norway, and serves customers in more than 100 countries with over 600 people in 18 countries across Europe, Asia-Pacific and North America.

2020 was established in 1987, is headquartered in Westford, Massachusetts and employs more than 850 people with direct operations in 11 countries and supports customers in more locations through a network of resellers.

Naveen Wadhera, managing director at TA, said, “Since TA’s investment, Compusoft has completed five acquisitions while also realizing sustained and meaningful organic growth.

“This growth has helped further position Compusoft as a leader, well-suited for what we believe will be a value-enhancing combination with 2020.

“ It has been a privilege to partner with Compusoft during this expansion, and we look forward to working with the combined teams on the next phase of growth.”

Managing director at Genstar Capital Eli Weiss said: “The combination of Compusoft and 2020 is a merger of equals by which there will be a number of benefits.

“Compusoft and 2020 are leading companies in their respective geographies, and we are confident that this merger will provide opportunities for continued organic and inorganic growth.

“The company is now better positioned to pursue new global opportunities that will enhance customer service and build on their strong momentum.”

The transaction is expected to be completed in the second half of 2021, and terms remain undisclosed.

Goodwin Procter LLP is serving as legal counsel and Alvarez & Marsal as financial and tax advisor to TA.

Kirkland & Ellis LLP is serving as legal counsel, Alvarez & Marsal is serving as financial and tax advisor and William Blair is serving as financial advisor to Genstar.