Westford, MA—Wood manufacturing design software developer 2020 Technologies will merge with Compusoft, which produces software for kitchen and bath designers for configuring, pricing, and quotes. The deal is through an agreement by the equity investment firms that own the two software companies. 2020 was recently acquired by Genstar Capital; and Compusoft is owned by TA Associates. The transaction is expected to be completed in the second half of 2021.
The merger of Compusoft and 2020 Technologies is being described as a combination of equals 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, visualization, configuration, pricing, quoting, ERP, and manufacturing solutions to consumers, retailers and suppliers across the kitchen, bathroom, office and residential furniture as well as commercial and residential window and door segments.
Compusoft was acquired by TA Associates, a leading global growth private equity firm, in 2018. Genstar Capital acquired 2020 last month. The newly-combined company will be majority owned by Genstar and TA. The expansive global network will be enhanced by local expertise and deep customer relationships developed over decades. The combined workforce is expected to benefit from more than 65 years of experience in customer service, catalog content, innovation, and technology.
“The merger of Compusoft and 2020 Technologies positions the combined company as a trusted provider whose suite of solutions supports designers, manufacturers, and retailers,” says Mark Stoever, CEO of 2020. “This is a transformative transaction.” 2020 Technologies originated in Laval, QC, and its customers are predominately in North and South America. Compusoft markets are primarily in Europe, South Africa, and Australia.
Given Compusoft’s presence in Europe and 2020’s presence in North and South America, the two businesses are truly complementary,” says David Tombre, CEO of Compusoft. “Our priority remains our customers success, and together we will provide an enhanced offering across support, content, innovation, and technology.”
2020 Technologies helps professional designers, retailers, and manufacturers in the interior design and furniture industries capture ideas, inspire innovation and streamline processes. Founded in 1987 in Laval, QC and now headquartered in Westford, MA, 2020 Technologies employs more than 850 people with direct operations in 11 countries and supports customers in many more locations around the world through a network of value-added resellers. www.2020spaces.com.