Photo By 2020
LAVAL, Quebec - Three weeks after being acquired by San Francisco-based Genstar Capital, furniture software firm 2020 Technologies has undergone another change of ownership.
Genstar signed an agreement with private equity firm TA Associates to merge 2020 with TA's portfolio company, Compusoft.
"Compusoft and 2020 will be combined in a merger of equals to create a leading provider of space planning and manufacturing solutions for the residential and commercial segments," according to a release. "The group will offer an end-to-end suite of planning, design, visualization, configuration, pricing, quoting, ERP, and manufacturing solutions to consumers, retailers, and suppliers across the kitchen, bathroom, office and residential furniture, and commercial and residential windows & doors segments.
“The merger of Compusoft and 2020 positions the combined company as a trusted provider whose suite of solutions supports designers, manufacturers, and retailers," said 2020 CEO Mark Stoever. "This is a transformative transaction."
“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," said Genstar managing director Eli Weiss. "The company is now better positioned to pursue new global opportunities that will enhance customer service and build on their strong momentum.”
The transaction should complete in the second half of the year.
2020 is a provider of specialized computer-aided design (CAD), configure, price, quote (CPQ), and enterprise solutions dedicated to interior design, space planning, and furniture manufacturing. The company has more than 50,000 customers around the world.
Founded in 1987 and headquartered in Laval, Quebec, 2020 employs around 850 people and has direct operations in 11 countries.
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