Fortino Capital Partners NV, a Belgian software investment firm, has acquired a majority stake in Germany-based Simcon Kunststofftechnische Software GmbH, an injection molding simulation software producer.
Founded in 1988, Simcon software helps processors meet quality and sustainability demand from the automotive, medical, aerospace and consumer electronics markets.
Applications for the B2B software include light weighting with metal-to-plastic substitutions, reducing carbon footprints and increasing use of recycled materials.
A spin-off from the Technical University Aachen, Simcon offers products like CadMould, which uses artificial intelligence (AI) to detect and avert errors before a physical mold is built, to customers such as Bosch, Continental, Roche, and Volkswagen.
The software reduces the need for real-world correction loops, lowers costs and speeds up production, particularly for processors of engineered plastics, which are being adopted more for construction and electric vehicles.
Simcon serves core markets for major processors that are working on innovations to drive adoption of injection molded plastic parts with superior material characteristics, according to CEO Bastiaan Oud.
"We've already got the technology to meet the evolving demands of the most demanding injection molding part and mold designers in the world, offering industry leading accuracy, speed and ease of use," Oud said in a news release. "Our customers are rapidly adopting our next-generation solutions, which brings the best of AI technology to bear on injection molding, saving weeks in time to market."
The acquisition by Fortino Capital marks a new beginning for Simcon, Oud added. The private equity firm will invest alongside the management team to develop new products and expand internationally.
"We're shifting gears, and we've got ambitious plans," Oud said. "Due to their strong track record and expertise scaling up B2B software companies, Fortino was our top choice among several potential investors."
This acquisition marks Fortino's second investment in Germany, according to Philipp Remy, a partner.
"Simcon is able to support engineers at every company size in unique ways," Remy said.
"Their automation and simulation software is a mission-critical cornerstone for many industry leaders in Germany and Europe. Simcon's strong reputation and customer relationships are defined by the software's simulation speed, intuitive usability and simultaneous analysis features. We look forward to supporting Bastiaan and his team to realize the company's growth plans."
Fortino's other German investment is Symbioworld GmbH, a developer of business process management software.