Karlsruhe, August 6, 2018: German private equity firm LEA Partners with its LEA Mittelstandspartner Fund has acquired PROCAD GmbH & Co. KG together with the management team via a succession arrangement. Volker Wawer, founder and previously the sole shareholder of PROCAD, will continue to serve the company as a managing partner.
PROCAD is the developer and marketer of one of the market-leading digitalization platforms for product and document lifecycle management (PDM and PLM) and, with more than 650 customers, a major provider of digitalization solutions for mid-sized companies in the DACH and international markets.
As part of the transaction, Raimund Schlotmann, who joined Volker Wawer as a managing director of PROCAD in 2013, along with other members of the management team have made a significant investment in the company. “Strengthened by the expertise and resources provided by our new majority shareholder, we are now able to take our company to the next level during this important development phase: not only by expanding our sales and partner network, but also, and most importantly, by additional investments in our product portfolio,” he explains.
“We were very deliberate in choosing our new majority shareholder. LEA Partners has built an excellent reputation as a partner to growth companies in the mid-market segment,” Volker Wawer continues. “We are very satisfied that we were able to implement a succession arrangement that will significantly strengthen the company now and in the future and is fully consistent with the company’s culture.”
“Volker Wawer, the management team, and the employees of PROCAD have done an impressive job of building and growing the business over the years,” points out LEA Partners’ Philipp Hertel. “We are looking forward to working with the PROCAD team and helping them fulfill their vision of providing manufacturing customers with the most innovative technology platform for the digitalization of their product engineering and management processes.”