goetzpartners advised PINOVA Capital and Dr. Andreas Seidl
goetzpartners advised PINOVA Capital and Dr. Andreas Seidl on the sale of Assyst Group to Style3D
goetzpartners was mandated as exclusive M&A advisor by PINOVA Capital and Dr. Andreas Seidl on the sale of Assyst Group ("Assyst" or the “Company”), the market leader for fashion technology in Germany, Austria, Italy, and Switzerland, to Style3D, a leading digital solution provider in the global fashion industry.
Both companies are deeply rooted in apparel development and production: Style3D in Asia and Assyst in EMEA. Together, they are planning to create a global product offering for producers and brands that covers the entire apparel value chain from development to production and the various sales touchpoints.
Starting point will be the integration of the flagship products of both companies – Style3D and Assyst.CAD. Style3D is currently the most advanced 3D fashion design software with a high growth rate globally. While Assyst is market leader with its 2D CAD technology in Germany, Austria, Italy, and Switzerland and offers a seamless software portfolio from 2D and 3D CAD to production (Automarker) and to all sales touchpoints.
Major driver of the merger is the companies’ complimentary technology offering and the vision to create a seamless digital process from providing digital fabric and accessories up to the realization of products. The merger also strengthens Assyst's competitive position in the 3D design sector. Style3D, in turn, will benefit from Assyst's expertise in the development, CAD and digital simulation of apparel products and the access to the international market.
"Style3D and Assyst have the same commitment to quality and the same roots in apparel production. The two companies match very well. The chemistry is just right," says Hans Peter Hiemer, Managing Director, Assyst.
The textile and apparel industry are facing intense challenges in terms of sustainability and profitability. Automation and digitally integrated processes are the solution. However, this requires high performance standards in 3D and 2D, transparency in material usage, and connectivity to production processes. Together, Style3D and Assyst can provide this necessary solution. The new end-to-end technology offering from Assyst and Style3D will create the conditions for the rapid, sustainable development of profitable garments as well as for innovative offerings or even new business models.
Looking ahead to the future, both parties will offer 2D-based & 3D-based one-stop solutions for business clients leveraging on their global tech base and complementary serviceable resource dominance. Assyst will continue to operate its business independently and will continue to develop, sell, and service all its existing products.
goetzpartners acted as sole and exclusive M&A sell-side advisor to PINOVA Capital and Dr. Andreas Seidl. The transaction further underlines our competence advising cross-border M&A transactions and our software sector expertise.
Assyst is the market leader for fashion technology in Germany, Austria, Italy and Switzerland and is a key partner for digitization in the apparel industry. With an end-to-end approach and integrated systems for 3D, CAD, marker-making, and order optimization, Assyst links development and production and helps to develop, produce and market apparel competitively and successfully. The know-how and expertise of around 120 employees at Assyst's Munich and Milan sites, together with more than 35 years of experience in apparel industry technology, enable the company to develop end-to-end solutions that help the industry to produce sustainable, fast, and profitably. Assyst operates around the world in more than 60 countries jointly with its partners.
About Pinova Capital
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.
Founded in 2015, Style3D is a leading digital solution provider in the global fashion industry. Style3D has built a digital fashion infrastructure by using its own soft-tissue engine as the base technology, an industrial-level software and a 3D design integration and collaboration platform. At present, Style3D provides a complete digital solution for different businesses in the fashion industry and has served thousands of fashion companies worldwide. Style3D is a global company with R&D centers in China and the US, and it has offices in Europe, North America and in the Asian Pacific Region. The team brings together diverse and cross-border international talents such as scientists, engineers, designers, and artists.