Hazlewoods Corporate Finance team has advised a Gloucestershire IT business on its successful sale to a global company with annual revenues of over $1.2 billion.
Cadventure Ltd, an award-winning provider of industry-leading software used by architects, engineers, and designers of major infrastructure projects worldwide, has been acquired by Bentley Systems, an American-headquartered infrastructure engineering software company.
Founded in 1989 by Elaine and Paul Lewis and headquartered in Kemble, Cadventure has been operating for 35 years.
The business, which also excels in offering market leading training and consultancy services, forged a close working relationship with Bentley over three decades.
As a result, Cadventure had platinum software reseller status and was Bentley’s largest partner outside of China at the time of acquisition.
Bentley is listed on the New York stock exchange and employs more than 5,000 people in forty countries. Professionals in 194 countries use its 3D modelling tools and data management systems for designing and delivering major road, rail, bridge, skyscraper, and power station projects.
Elaine Lewis, managing director of Cadventure, which operates out of Kemble, said: “It was a pleasure working with Rich Grover and Sam Collins at Hazlewoods.
“Due to the nature of our business, this was a two-year engagement. Throughout this time, they remained engaged, enthusiastic, and available whenever needed to seek feedback and report progress.
“From my perspective Sam and Rich make a very effective team, each playing to their strengths to provide the best-possible client experience.”
She added: “Cadventure’s longstanding reputation in the industry is now backed by Bentley’s global brand. This acquisition strengthens our commitment to delivering enhanced data optimisation capabilities and deepens our technical expertise to better serve infrastructure projects worldwide.”
Rich Grover, Corporate Finance Director at Hazlewoods, who advised on the sale of the Cadventure, said: “We enjoyed working with Elaine and Paul immensely and it has been an absolute pleasure to help them realise the value in the business which they have put their heart and soul into for more than three decades.
“This is a significant milestone for Cadventure, and it is fantastic to see the business go to such a large and reputable international firm who will ensure its continued success.”
Andy Rahden, Vice President of Solution Engineering & Services at Bentley Systems, said: “The acquisition of Cadventure allows us to further optimise infrastructure data solutions while fostering greater technical excellence. By combining our strengths, we can empower professionals worldwide with enhanced capabilities and collaborative opportunities that drive infrastructure innovation forward.”
If you are considering selling your business or are looking for ways to finance your growth plans and would like to find out more about the process, please contact Rich Grover at rich.grover@hazlewoods.co.uk, or call 01242 680000.
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