The board of Oxfordshire-based OnePLM has announced the successful acquisition of the entire issued share capital of TEAM Engineering. This transaction facilitates the merger of the UK’s two largest Siemens Digital Industries software partners serving thousands of clients across a diverse industry range throughout the UK and Ireland.
BGF, the UK and Ireland’s most active investor in growing businesses, has backed the company since 2018, providing growth capital in 2018 to support the merger of Cutting Edge Solutions and Majenta PLM to create OnePLM, based at Eynsham.
Allan Blackwell, CEO, OnePLM said: “Encouraged by the continued success of the merger of Cutting Edge Solutions and Majenta PLM (now known as OnePLM), the joining of Team Engineering into this enterprise makes perfect sense. Extra capabilities and services based around the Siemens software portfolio will become available to both company’s client base. I’m delighted we have been able to complete this next stage in our ambitious growth plans for the benefit of our clients, Siemens and of course both our company’s staff.”
Steven Kane, managing director, TEAM Engineering, said: “This merger with OnePLM is an obvious next step for both businesses. We have been exploring ways to expand our footprint at TEAM in our product offering from Siemens as well as being able to provide technical support and assistance to the wider Siemens client community. This merger allows us to do both and have an immediate, positive impact for all concerned.
“Over the last 22 years, as a dedicated Siemens Business Partner, TEAM Engineering has built an enviable reputation for technical expertise within the Siemens portfolio and this coupled with a similar ethos at OnePLM will prove a fantastic solution for the clients of both companies.
“Our technical strengths as businesses are also complimentary to each other and this combined with the professional sales teams that both companies employ will see the business and support we can offer grow further over the coming months and years.”
Nick Farrell, UK indirect sales director for Siemens Industry Software, said: “OnePLM is Siemens’ largest UK PLM partner with responsibility for looking after the majority of our UK customers. TEAM Engineering has been a partner of Siemens since 1997 and are known for managing many of our most technically complex NX and Teamcenter customers.
“The acquisition will increase OnePLM’s consulting, support and customer service resource and provide all customers with an increased pool of expertise to draw on. As OnePLM has grown we have seen the benefits that size can bring with an increase in the level of professionalism, business process control and reach into the market. We look forward to OnePLM continuing its growth and success including its new customers and colleagues from Team Engineering.”
The financial terms of the deal were not disclosed. The deal was led by OnePLM’s long term advisers: Harry Cobb from Mirada Corporate Partners managed the transaction and led the negotiations.
Rob Wood, Mike Freer and the team at Osborne Clarke provided due diligence and legal advice.
Debt financing was provided by HSBC UK Bank plc, led by Hayley Dicks from the Thames Valley commercial banking team in Oxford.