Thursday 25 February 2021

US-based construction management software provider Buildertrend has acquired Virginia-based project management software provider CoConstruct to expand suite of Saas products and services that empower the residential construction business, the company said.

Funding for the acquisition is provided by a growth investment in Buildertrend by Bain Capital Tech Opportunities and HGGC.

Existing CoConstruct investor Serent Capital is reinvesting in the combined company. Buildertrend Co-Founder and CEO Dan Houghton will lead the combined company alongside Co-Founders Steve Dugger and Jeff Dugger. CoConstruct Founder Donny Wyatt will serve as an advisor to lead integration efforts.

Terms were not disclosed.

The combined business served 23,000 clients, over 1.1 m users and facilitated over USD 200bn in annual construction project value in 2020.

Spurrier Capital Partners served as the exclusive financial advisor to Buildertrend. Cooley LLP served as legal advisor to Buildertrend. PricewaterhouseCoopers and Kirkland and Ellis LLP served as financial and legal advisors, respectively, to both Bain Capital and HGGC. Choate, Hall and Stewart and Polsinelli served as legal advisors to Serent Capital and CoConstruct.