Addnode Group acquires SolidCAD in Canada
Summary by AI BETAClose X
Symetri, part of the Design Management division, announces that it has today signed an agreement to acquire SolidCAD. An Autodesk Platinum Partner, SolidCAD is the market leader in digital solutions for Canada’s design, construction and manufacturing industries. SolidCAD’s net sales for 2025 are expected to amount to SEK 280m with an EBITA of SEK 120m.
The acquisition of SolidCAD further expands Symetri’s reach across the Americas, adding Canada to its existing presence in the US and Brazil, in addition to its long-established European base. After the acquisition, Symetri will have about 150 more employees, bringing the total to about 1,400 globally.
Founded in 1996 and headquartered in Richmond Hill, Ontario, SolidCAD is Canada’s leading Autodesk Platinum Partner and a Sapphire Partner to Bluebeam, supporting more than 6,000 clients innovating, collaborating and accelerating their digital transformation. With this acquisition, Symetri now serves over 30,000 clients worldwide.
“The acquisition of SolidCAD is in line with our growth strategy and our newly updated financial targets. Symetri has successfully grown organically and by acquiring and integrating other Autodesk partners, supported by a strong portfolio of proprietary software and professional services. This acquisition will strengthen Symetri, create value for our shareholders, and open further opportunities to leverage our presence in the Canadian market”, says Johan Andersson, CEO and President of Addnode Group.
“Our expansion into Canada reflects our strategy to enable the world to design, build, and manufacture in a smarter and more sustainable way. With this acquisition, we bring in a strong, mature business with an extensive network of industry experts. We are excited to work with the team at SolidCAD and their talented clients to bring the next generation of productivity and sustainability solutions to the Canadian market”, says Jens Kollserud, CEO of Symetri, a company in Addnode Group's Design Management division.
For Symetri, Canada represents a strategic growth opportunity with its strong manufacturing base, rapidly digitizing AECO (architecture, engineering, construction, operations) sectors, and a highly skilled workforce. Federal investments in sustainable infrastructure and construction, coupled with acute labour shortages, are driving demand for efficient, technology-driven solutions, and create fertile ground for Symetri’s productivity and sustainability offerings.
Symetri’s global network of professional expertise and next generation tools, including their own products Naviate, Sovelia and CQ, will provide Canadian clients with capability and capacity to enhance data quality, configure solutions more effectively, and drive innovation. The acquisition positions Symetri to accelerate its next phase of growth in a stable, innovation-driven market.
Purchase price and financials
The acquisition is structured as an asset purchase, whereby Symetri acquires SolidCAD:s business and assets. The purchase price at closing amounts to SEK 850m and an adjustment will be made for the value of assumed working capital items at closing. In addition to the payment at closing, an additional purchase price of maximum SEK 204m is contingent on future financial performance. Addnode Group will fund the acquisition with an extension of existing credit lines.
The acquisition of SolidCAD is expected to have a positive impact on Addnode Group's earnings per share from the time of consolidation and onwards.
The acquisition is subject to completion conditions related to the transfer of assets. Closing is planned for late October 2025. SolidCAD will be consolidated as part of Addnode Group’s Design Management division and its subsidiary Symetri.
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