Autodesk Acquires Magestic Systems Incorporated
Mirus Capital Advisors served as the exclusive financial advisor to Magestic Systems in their sale to Autodesk, a leading design, engineering and entertainment software based in San Rafael, California. Magestic Systems provides a variety of integrated manufacturing software solutions for CNC cutting applications of advanced materials such as composites and honeycomb laminates, as well non-composite materials such as heavy plate and sheet metal. Magestic Systems’ solutions are used around the world by leading manufactures in the aerospace, automotive, transportation, energy, defense, industrial and construction industries.
“The Mirus Capital team definitely exceeded our expectations, commented Greg Maclean, CEO and co-founder of Magestic Systems. “They were diligent, well-prepared, they knew our industry inside and out, and we felt very comfortable in the entire process. We always knew what to expect and were able to get ahead of the curve. In addition, we established a personal relationship as well not just a professional relationship, and that led to a very successful transaction.”
“On behalf of the entire Mirus team, it was our pleasure working with Greg and Mike (Michael Spellman, co-founder and CTO) to help them realize their goals,” said Mirus partner Peter Alternative. “Magestic System’s blue chip customer base of Fortune 500 companies and strong IP portfolio reflect their widely recognized thought leadership within the computer-aided manufacturing software domain for composites and other advanced materials, a domain that continues to mature and enjoy more mainstream adoption.”
“One of the things that impressed me and one of the reasons we went with Mirus to begin with was the first question they asked us, ‘what are your goals’”, said Greg Maclean. “’What did we want out of this transaction? Why did we want to sell our company? What did we expect?’ By asking those questions, they made us think and throughout the process they never lost sight of our answers. They kept us in line and steered us through the entire process, always with those goals in mind”.
This is the third Manufacturing Automation software and services transaction Mirus has completed over the last 24 months. “We define the manufacturing automation software industry as software and supporting services that are applied to help companies improve their operational efficiency in the design and manufacture of their discrete or process driven products,” said Mr. Alternative. “We publish a quarterly industry report and actively blog about related industry topics. We expect 2015 to be another active year of deal making in Manufacturing Automation and look forward to sharing our experience and insights with business owners that are interested in understanding their strategic options.”
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to business owners in technology, business services, manufacturing, consumer products, health care and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations.Back to Transactions