OMAHA, NE and CHARLOTTESVILLE, VA – Buildertrend, a major supplier of cloud-based mostly development administration software package for homebuilders, remodelers and specialty contractors, right now announced the acquisition of CoConstruct, a complementary provider of construction undertaking administration program for the residential development field. Funding for the acquisition is delivered by a progress investment decision in Buildertrend by Bain Capital Tech Prospects and HGGC. Present CoConstruct investor Serent Capital is reinvesting in the combined enterprise. Buildertrend Co-Founder and CEO Dan Houghton will lead the combined organization along with Co-Founders Steve Dugger and Jeff Dugger. CoConstruct Founder Donny Wyatt will provide as an advisor to direct integration initiatives.
This transaction makes Buildertrend the greatest building administration software program organization committed to empowering unbiased and personalized homebuilders, contractors and remodelers with the applications to superior coordinate tasks, control finances and communicate with customers and crews. The built-in, SaaS-enabled system gives flexible project administration, bookkeeping, supplies procurement, customer engagement, and payments providers to ease the most prevalent discomfort details that direct to pricey, uncoordinated projects and dissatisfied customers. The put together business served 23,000 clients, more than 1.1 million people and facilitated over $200 billion in once-a-year development venture worth in 2020.
“Our field is just one of the quickest increasing in the U.S., however it lags in digital innovation and depends on antiquated task management systems to get over a sophisticated worth chain and fragmented contractor ecosystem,” mentioned Houghton. “This acquisition, alongside one another with ongoing support from our most effective-in-course established of business software program traders, positions Buildertrend to drastically increase our sector share and carry on delivering revolutionary, worth-additional options that strengthen customer achievements and efficiency.”
CoConstruct was started in 2005 in Charlottesville, Virginia with a mission to bring residential development challenge management into the 21st century. The Business has been identified as Constructech’s #1 Software program System for Construction Collaboration for about 10 yrs in a row, reflecting its finest-in-breed item pipeline that satisfies the escalating needs of residential building administrators. Buildertrend consumers will also know price price savings and efficiencies with the integration of CoConstruct’s October 2020 acquisition of CBUSA, the nation’s greatest homebuilder group obtaining corporation.
“It’s rare to see two sector-primary providers share a full-breadth of complementary operations and item abilities, but each and every with their very own special approaches of addressing consumer troubles,” mentioned Wyatt. “We’re thrilled to carry alongside one another our complementary ways and create an even more robust platform with the merged teams’ scale and shared culture of innovation.”
“Buildertrend and CoConstruct are award-winning businesses that demonstrate to homebuilders, remodelers and contractors on a everyday basis there is an different to the chaos of delayed and overbudget initiatives,” mentioned Phil Meicler, a Handling Director at Bain Money Tech Possibilities. “We’re very pleased to companion with Serent and HGGC to back the mix of these two businesses, who are poised to disrupt the residential construction marketplace,”extra Scott Kirk, a Partner at Bain Capital Tech Options. Bain Cash has delivered support and means for the mixture of a number of its portfolio providers with other main market players, together with A Cloud Expert with Linux Academy, Zelis with RedCard, Navicure with ZirMed to variety Waystar, and HST with Casetabs.
“We’ve experienced the satisfaction of seeing CoConstruct leverage an innate know-how of the residential development project lifecycle to make one of the most dependable platforms in the market. We simply cannot hold out to now companion with Buildertrend to facilitate its next stage of advancement,” claimed Kevin Frick, a Lover at Serent Money.
Spurrier Capital Associates served as the exceptional economical advisor to Buildertrend. Cooley LLP served as legal advisor to Buildertrend. PricewaterhouseCoopers and Kirkland & Ellis LLP served as economic and lawful advisors, respectively, to both of those Bain Funds and HGGC. Choate, Hall & Stewart and Polsinelli served as legal advisors to Serent Capital and CoConstruct.