Completed sale
SECANT
Secant has been acquired by Belgian cutting-optimisation specialist Ardis, bringing together two software businesses with around four decades of experience in the field. Ardis is now incorporating Secant’s technology into its own development work.
The roots of the business date back to 1987, when Peninsula Services was founded in the UK by scientists from the UK Atomic Energy Authority. Matthew Foster took over the company in 2003 and has led it for more than two decades.
Its software helps manufacturers find more efficient ways to cut sheet, plate, bar and beam materials, reducing waste while taking production requirements into account. Over the years, Secant has worked across industries using materials including wood, plastics, steel, aluminium and glass.
The company built a recurring income base through subscriptions and ongoing support, with 37 active clients across manufacturing and related industries. More recently, it introduced entry-level subscription products to make its software available to a wider range of customers.
The sale attracted 58 interested parties and three offers. Associate Director Sara Thomasson worked with Matthew through the process, which completed in under seven months.
Ardis develops its own cutting-optimisation software and has said Secant’s algorithms and knowledge are already being incorporated into its research and development work. Existing Secant customers will continue to receive support, with no immediate changes planned to the products.
Matthew can now retire after more than 20 years leading the company, while Secant becomes part of another long-established specialist in the same field.
The Knightsbridge team wishes Matthew every success for the future and Ardis continued success with Secant.