Gamma Technologies, LLC, a Westmont, Illinois-based provider of engineering simulation software, received a strategic investment from Cove Hill Partners.
TA Associates, a global growth private equity firm that invested in Gamma Technologies in June 2015, will continue to remain the largest shareholder in the company.
The transaction is expected to close at the end of June 2018. The financial terms of the transaction were not disclosed. Andrew Balson, Founder and Managing Partner of Cove Hill Partners, will join the Gamma Technologies Board of Directors.
Founded in 1994 and led by Dr. Thomas Morel, Chief Executive Officer and President, Gamma Technologies offers computer-aided engineering (CAE) software GT-SUITE used by engineers to execute large-scale, integrated simulations of powertrain and vehicle systems. GT-SUITE includes a complete library of physics-based modeling software customized to address the challenges of vehicle and component design, allowing simulation of a variety of vehicle functions and subsystems, including powertrain, transmission, engine, thermal management, hydraulics, lubrication and friction, acoustics, HVAC, after treatment, general multi-body mechanics and control.
Customers include all major global automotive manufacturers and most of their suppliers.
In February, Gamma Technologies announced the acquisition of the AutoLion® battery modeling software business from EC Power.
The company also has a European office in Stuttgart, Germany.