BGF successfully exits Oxfordshire’s OnePLM

Published by

Sam Pither

BGF, an investment company with offices in Reading and across the South East, has successfully exited OnePLM, an Oxfordshire value-added reseller (VAR) of Siemens CAD/CAM and Product Lifecyle Management (PLM) software.

The exit follows the acquisition of OnePLM by The Digital Tranformation consortium of Magnus Digital, Dimensys, cards PLM Solutions and Appronto.

Allan Blackwell, CEO of OnePLM, said: “Funding from BGF has enabled OnePLM to evolve faster and become one of the largest and most successful Siemens PLM solution providers in the world.

“Despite unprecedented recent challenges, our business has trebled in size since our investment. Working with BGF has helped us take advantage of growth opportunities present within our industry through acquisitions.

“Due to the foundations that BGF have helped us build, we are now able to accelerate our growth plans at OnePLM and serve international markets with best-in-class Siemens Digital Industries software and services"

The relationship between BGF and OnePLM dates back to June 2018, when the investment firm acquired a 25 per cent equity stake. This funding was then used to acquire Majenta PLM, the UK’s largest Seimens VAR.

The combination of Majenta and OnePLM represented more than 75 per cent of Seimens’ UK PLM VAR channel, with an annual takeover of approximately £23 million.

This was followed in September 2019 by the acquisition of Team Engineering, a Siemens PLM Gold Partner with product and vertical expertise that was deemed complementary to the group.

Mark Parry, Managing Director of OnePLM, said: “BGF’s funding has been vital in accelerating our growth in the past four years, both organically and inorganically. Critically, the partnership has facilitated two strategic acquisitions that have been instrumental in consolidating our position as the leading Siemens PLM VAR.

“With BGF’s support, we’ve also been able to build out our consulting division, extend our expertise across Siemens Digital Industries Software portfolio, and onboard smaller Siemens clients more effectively. Their support has provided solid footing from which we can continue to grow moving forward”.

Across the four financial years since BGF’s investment, OnePLM has seen revenue growth of 16 per cent. This has seen a 3.6x return on BGF’s original investment into the firm.

The sale of OnePLM follows considerable activity at BGF in August, which has seen the company also invest £2.3 million in Edinburgh-based Optima Partners and £3.5 million in Nottingham-based Cheesecake Energy. It has also made significant contributions to new diversity-focused fund Cornerstone VC.

Alex Snodgrass, an investor at BGF who has worked with OnePLM since 2018, said: “It’s been extremely pleasing to see OnePLM thrive in the past four years. Not only has the organisation overcome critical headwinds such as Brexit and Covid during this time, but it has consolidated its status as a top Siemens PLM partner globally.”

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.