Private equity firm The Halifax Group announced today that it has sold a majority stake in TriMech, a Richmond, Virginia-based provider of engineering teams with 3D design and rapid prototyping solutions — including staff augmentation — to Sentinel Capital Partners, a New York-based private equity firm.
Halifax will continue to hold a minority stake. In addition, TriMech CEO Marcel Matte and its existing management team will continue to lead the company post transaction.
TriMech partners with companies such as Dassault Systèmes — a France-based developer of software for 3D product design, simulation and manufacturing — and Stratasys, an American-Isareli manufacturer of 3D printers and 3D production systems. TriMech was founded in 1998. It has 37 locations across central and eastern US and Canada and serves more than 15,000 clients.
“TriMech is strategically positioned to capitalize on favorable secular trends underpinning the 3D CAD and 3D printing markets,” said Jon Gurss, a principal at Sentinel. “With a talented and committed management team and a highly dedicated team of employees, we believe TriMech is well-positioned to continue its rapid growth, both organically and through acquisition.”