TA Associates, a global growth private equity firm, and LEA Partners, a technology focused private equity firm, are to merge Enscape, a developer of real-time rendering and design workflow technology for the Architecture, Engineering and Construction (AEC) industries, and Chaos, a specialist in photorealistic rendering technology.
The merger will establish a specialist in the 3D visualisation and design workflow software sectors, with a focus on the AEC, Visual Effects (VFX) and Product Design verticals.
Peter Mitev, CEO and co-founder of Chaos, and Christian Lang, CEO of Enscape, will share the title of co-CEO for the new company. Vladimir Koylazov, co-founder of Chaos and current head of software operations, will continue to drive R&D and innovation in a leadership position.
TA will join LEA, Enscape’s current majority shareholder, in the newly-combined company alongside the management of Chaos and Enscape, who will retain a significant minority stake. As part of the transaction, Sean Flaherty will also become Chairman of the Board of Directors of Chaos. Flaherty, former CEO of Vectorworks and Chief Strategy Officer of Nemetschek Group, currently serves as Chairman of the Board at Enscape.
Financial terms of the transaction, which is is expected to be completed during the first quarter of 2022, have not been disclosed.
