Milbank LLP has advised the German technology investor LEA Partners on the sale of PROCAD Group, a leading software vendor for the digitalization of product lifecycle management, to Revalize, the worldwide leader in sector-specific revenue operations software for manufacturers, their distributors and their specifiers. Revalize is backed by TA Associates and Hg. The terms of the transaction were not disclosed.
Founded in 1985 in Karlsruhe, Germany, PROCAD offers proven product lifecycle management (PLM) and product data management (PDM) solutions that enable companies to manage their product lifecycles in a world of ever-growing complexity, delivering a substantial efficiency boost to customers in the discrete manufacturing sector. PROCAD Group was created in 2021 from the merger of PROCAD with keytech, which also specializes in PLM, and ACATEC, a developer of CPQ solutions for manufacturers of complex products. The PROCAD Group brings more than 1,350 customers and more than 250 employees at 12 locations to Revalize.
The Milbank team was led by partner Dr. Michael Bernhardt (Corporate/M&A, Frankfurt) and included associates Sebastian Dexheimer, Dr. Sarah-Maria Resch and Leonard Mittmann (all Corporate/M&A, Frankfurt), Dr. Thomas Möller, Sebastian Trompler (both Finance, Frankfurt), partner Dr. Matthias Schell and associate Dr. Arne Hammerich (both Tax, Munich) as well as partner Dr. Alexander Rinne and associate Matthias Riehl (both Antitrust, Munich).
