Private equity firm Vector Capital is to sell 20-20 Technologies (2020), a provider of interior space planning software solutions, to Golden Gate Capital.
Terms of the transaction have not been disclosed.
Founded in 1987 and headquartered in Laval, Quebec and Westwood, MA, 2020 is the only global provider of applications, solutions and content for interior space planning, omni-channel retail and furniture manufacturing.
2020 customers include many of the world’s largest home improvement retailers and manufacturers, as well as tens of thousands of local, independent kitchen and bathroom dealers.
Vector Capital partnered with founder Jean Mignault to take 2020 private in 2012. Under Vector Capital’s ownership, 2020 pursued a series of growth initiatives over the past four years, including the development and commercialisation of Ideal Spaces, its next-generation online space planning solution, and release of 2020 Cloud, a dynamic content management platform for digital product information and catalogues.
Mark Goldstein, CEO of 2020, says: “With the backing of Vector Capital, we embarked on a mission to broaden and enhance our software product and solution offerings. Vector has been a great partner in helping us better serve our customers globally.”
Aalok Jain, principal at Vector Capital, adds: “We are delighted by what 2020 has achieved over the past four years under Mark’s leadership and wish the company continued success. 2020 is representative of Vector’s thematic investment effort to identify innovative companies and back management to pursue growth in attractive niche markets.”
The transaction, which is subject to customary closing conditions, is expected to close in the second calendar quarter of 2017. William Blair & Company is acting as financial adviser and Sidley Austin is acting as legal adviser to 2020 and Vector Capital.