Catchment Capital Announces Inaugural Investment in Fidus Systems
Strategic Investment Enables Creation of Global Market Leader in Advanced Electronic and
Embedded System Design Services
NEW YORK, September 30, 2025 – Catchment Capital (“Catchment”), a private equity firm focused on
transforming middle market industrial businesses, today announced an agreement to make a majority
investment in Fidus Systems (“Fidus” or the “Company”), a leading provider of advanced electronic and
embedded system design services. The investment in Fidus is Catchment’s inaugural investment since the
firm’s founding. Fidus management is investing alongside Catchment in the transaction.
Founded in 2001 and headquartered in Ottawa, Ontario, Canada, Fidus has established itself as a trusted
design partner to blue-chip companies across a diverse set of end markets. The Company focuses on high-complexity
embedded design services including FPGAs and ASICs, embedded software, hardware, layout
and printed circuit boards, signal and power integrity, mechanical and thermal as well as radio frequency
and providing validation and testing services. Fidus serves customers in the aerospace & defence,
automotive, communications, computing & storage, consumer electronics, general industrial medical
device, and semiconductor equipment industries.
“Fidus is an ideal first investment for Catchment,” said Alex Rose, Founder and Managing Partner at
Catchment. “Our investment strategy is to back industrial businesses that are well positioned to capitalize
on industry growth trends, where we can invest in the capabilities, people and systems to enhance its
strategic market position. We are excited to be able to support Alan Coady and the Fidus team to help
transform the Company into a global leader, providing solutions to a diversified and growing customer base
pursuing bleeding edge applications and exceptional service delivery.”
“Fidus has earned a stellar reputation with customers and partners as a highly technical service provider
with a long track record of delivering creative solutions to complex problems,” said Robby Berner,
Investment Partner at Catchment. “We believe Fidus is well-positioned to benefit from exceptionally
attractive secular and macro growth drivers, including increases in market-wide outsourcing of high-complexity
design services, utilization of artificial intelligence at the edge, increases in processing power
and speed required for advanced electronics, and demand for aerospace, defence and space electronics.”
Alan Coady, CEO of Fidus, said “We are thrilled to partner with Catchment as we enter the next stage of
Fidus’s growth. The Catchment team brings deep experience in supporting and scaling leading industrial
services companies, and their strategic and operational expertise will be invaluable as we look to accelerate
growth. This milestone is a testament to the dedication and talent of the entire Fidus team, and we are
excited to build on our strong foundation to deliver even greater value to our customers.”
The transaction is expected to close in October 2025, subject to customary closing conditions.
TD Cowen is serving as financial advisor to Catchment, and Blakes, Cassels & Graydon LLP and Gibson, Dunn,
& Crutcher LLP are serving as legal counsel. Sampford Advisors is serving as financial advisor to Fidus and
LaBarge Weinstein LLP is serving as legal counsel.
About Catchment Capital
Founded in 2024, Catchment Capital is a New York-based private equity firm focused on transforming
middle market industrial technology, services and products companies. Catchment specializes in utilizing its
proprietary Catchment Strategic Transformation (“CaSTTM”) process to guide industrial companies through
investing in capabilities which catalyze growth and unlock inherent value. For more information, please visit
About Fidus Systems
A leading provider of outsourced advanced electronic and embedded system design services, Fidus helps
global innovators accelerate time-to-market and de-risk complex product development. Headquartered in
Ottawa, ON, with three North American offices and 135+ employees, Fidus delivers expertise across FPGA
and ASIC design, embedded software, hardware design, layout and printed circuit board design, signal and
power integrity, mechanical and thermal design, radio frequency, validation and testing. Trusted by 500+
customers, including tier-one leaders in semiconductor equipment, A&D, communications, computing and
storage, auto, medical devices, consumer electronics and general industrial, Fidus combines deep technical
talent with flexible engagement models to deliver first-time-right solutions for mission-critical applications.
For more information, please visit fidus.com.
For more information, please contact:
Mark Semer / Grace Cartwright
Gasthalter & Co.
(212) 257-4170