BOSTON, MA (October 31, 2016) – Aeris Partners is pleased to announce ConstructConnect, the leading provider of cloud-based data, collaboration, and workflow automation solutions to the commercial construction industry, is being acquired by Roper Technologies. Aeris Partners and Guggenheim Securities served as the exclusive sell-side M&A advisors to ConstructConnect and its majority investors, Genstar Capital and Warburg Pincus.
ConstructConnect leverages the industry’s largest cloud-based data and collaboration platform to automate commercial pre-construction processes for more than 800,000 registered users, including general contractors, subcontractors, building product manufacturers, architects, engineers, and project owners. The ConstructConnect platform managed more than 400,000 active construction projects and 55 million invitations to bid over the past 12 months.
The transaction is expected to close on October 31, 2016.
Aeris Partners has successfully completed seven architecture, engineering and construction (AEC) software and SaaS M&A assignments in approximately 24 months, including the acquisitions of iSqFt and BidClerk by Genstar Capital in 2014, and the acquisition of On Center Software by Roper Technologies in 2015. Recent AEC software and SaaS transactions completed by Aeris include:
– Acquisition of iSqFt by Genstar Capital;
– Acquisition of BidClerk by Genstar Capital;
– Acquisition of Axium by Deltek;
– Acquisition of FiveCubits by Command Alkon;
– Acquisition of On Center Software by Roper Technologies; and
– Acquisition of Ecosys by Hexagon AB.
“Dave Conway and the ConstructConnect team have been innovators and a true driving force in the industry for more than a decade. The Company’s cloud-based platform and network of more than 800,000 registered users has transformed the industry’s approach to commercial pre-construction coordination, collaboration and bidding. ConstructConnect has done an incredible job, and we were honored to advise management, Genstar Capital, and Warburg Pincus on the transaction,” said David Joncas, Managing Director with Aeris Partners.
ConstructConnect’s collaborative network empowers the construction industry to be more successful with access to relevant information through easy to use technology. Headquartered in Cincinnati, Ohio and with eight other offices in the US and Canada, ConstructConnect brings project participants together throughout North America with the most complete, accurate and actionable construction data to drive success in their markets. For more information, visit constructconnect.com.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the industrial technology, software, healthcare, and financial services industries. For more information, please visit gencap.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value, and they have been among the most active investors in marketplace businesses globally with current and former investments including 58.com, Quikr, Koudai, CarTrade, GO-JEK, GrubHub Seamless, A Place for Mom, and Slickdeals. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested more than $58 billion in over 760 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit warburgpincus.com.
About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), energy & power (EnergyTech), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $18 billion of M&A advisory assignments to date. For more information, please visit: aerispartners.com.
Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.