Harris Williams Advises IQMS on its Pending Acquisition by Dassault Systèmes

December 13, 2018

Harris Williams, a preeminent investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it is advising IQMS, Inc., (IQMS), a portfolio company of TCV and Banneker Partners (Banneker), on its pending acquisition by Dassault Systèmes for $425 million. Completion of the transaction is subject to customary conditions precedent, including antitrust approval in the U.S. Legal representation for IQMS is being provided by Weil, Gotshal & Manges. IQMS is a leading provider of fully-integrated manufacturing software solutions that optimize engineering, manufacturing, and business processes. The transaction is being led by Tyler Dewing, Jeff Bistrong, Thierry Monjauze, Erik Szyndlar, Andy Leed and Mike Quealy of Harris Williams’ Technology, Media & Telecom (TMT) Group.

“The manufacturing industry is undergoing a transformational evolution driven by the adoption of sophisticated software with greater emphasis on device connectivity and data integration, and IQMS is integral in enabling manufacturers to realize the benefits of greater visibility across the manufacturing lifecycle,” stated Tyler Dewing, a managing director at Harris Williams. “Under the leadership of CEO Gary Nemmers, and with the backing of TCV and Banneker, IQMS has set itself apart from competitors by continually improving its fully-integrated manufacturing execution (MES) and enterprise resource planning (ERP) platform and developing advanced functionality that positions customers for success in the age of digital manufacturing.”

“IQMS is a demonstrated leader in manufacturing software, and its ability to connect shop floor operators with business leaders across the organization in real-time unlocks tremendous value for manufacturers of all sizes,” added Jeff Bistrong, a managing director at Harris Williams.

IQMS’ all-in-one software solution digitally connects order processing, scheduling, production, and logistics processes, enabling manufacturers to gain efficiencies across engineering, manufacturing and business ecosystems. The company serves over 1,000 customers that operate over 2,000 manufacturing facilities in 20 countries across automotive, industrial equipment, medical devices and consumer packaged goods industries. IQMS’ solutions are purpose-built for discrete manufacturers and are designed to enable comprehensive management of business and shop floor operations by facilitating real-time connection to shop floor equipment and delivery of actionable insight across the entire organization. The company is headquartered in Paso Robles, California and operates additional offices in Pleasanton, California and Schaumburg, Illinois.

TCV, established in 1995, focuses on growth-stage investments in private and public technology companies across enterprise and consumer software and technology sectors. Since its founding, the firm has raised nine funds and invested over $10 billion of capital in leading technology companies, over 60 of which have subsequently completed initial public offerings and 54 that were sold to strategic acquirers. TCV is headquartered in Menlo Park, California and operates additional offices in New York, New York and London, England.

Banneker Partners, founded in 2011, is a private investment firm that focuses on building long term value in software businesses across a variety of verticals.  Banneker is headquartered in San Francisco, California. 

Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.

Harris Williams' TMT Group advises leading private and public companies, entrepreneurs, private equity firms, and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector, industrial, and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.