TA Associates signs Rocscience exit to Hexagon at $535m enterprise value

TA Associates has agreed to sell its portfolio company Rocscience to Hexagon. The transaction is valued at an enterprise value of approximately $535 million. Upon completion of the deal, TA Associates will fully exit its investment in the company. Rocscience, a geotechnical software developer based in Toronto, will become part of Hexagon's radar and monitoring division.

Rocscience was established in 1996 by John Curran, originating from the University of Toronto. The company specializes in providing 2D and 3D software solutions that assist engineers in modeling the behavior of rock, soil, and structures. These tools are critical for supporting design and decision-making processes in various engineering projects, including those in mining, civil engineering, and structural engineering sectors.

TA Associates initially became Rocscience’s first institutional investor in June 2023. During its ownership, TA Associates facilitated significant investments in Rocscience's operational capabilities and go-to-market strategies. The company also enhanced its product suite during this period, expanding its offerings and market reach.

Under TA Associates' guidance, Rocscience pursued a growth strategy that included six strategic acquisitions. These acquisitions brought DIANA FEA, 3GSM, DEEPSOIL, 2SI, Rockfield, and Aquanty into the Rocscience portfolio, allowing the company to expand into adjacent markets. Additionally, Rocscience invested in the development of AI-enabled products, such as a natural-language interface designed to simplify engineering modeling and analysis for users.