Progress Equity Partners, Ltd. is pleased to announce the recent sale of Diversified Machine Systems, LLC (“DMS”) to SCM Group, a leading Italian multinational company in machinery and industrial equipment. Progress Equity partnered with DMS and its founder Patrick Bollar in 2011. Annual revenues have nearly tripled since that time through continuous innovation within its core business of providing and building custom CNC machine solutions and support services for its world-wide customer base, particularly for many in plastics and composite materials applications.
“It has been a pleasure to be a part of DMS’s growth and evolution over the past 7 years”, stated Steve Sangalis, Partner of Progress Equity, continuing “we also believe the partnership with SCM Group comes at the right time for the company and its employees, expanding DMS’s global service capacity and technological capabilities to best serve its growing customer base well into the future.” Patrick Bollar added “I am very pleased to have partnered with Progress Equity and appreciate the insight and support they provided as we worked together to grow DMS.”
DMS represents another successful investment for Progress Equity and its investors, returning over four-times capital invested.
About Diversified Machine Systems
Diversified Machine Systems, LLC (www.DMSCNCrouters.com) is an industry-leading manufacturer of 3-axis and 5-axis CNC routers and machining centers. Located in Colorado Springs, CO, and serving customers world-wide, DMS supplies machines to a variety of manufacturing sectors including aerospace, automotive, marine, 3D sculpture, and formed plastics among many others.
About Progress Equity Partners
Progress Equity Partners, Ltd. (www.ProgressEquity.com), with offices in Denver and Dallas, is a private equity investment firm that acquires majority control of entrepreneurial, middle market businesses. The principals of Progress Equity are relationship driven, long-term investors and have a proven track record of transitioning entrepreneurial companies into professionally managed, industry-leading organizations.