Alternative investment firm Bain Capital has made a major growth equity investment in Viewpoint Construction Software.
Viewpoint, which provides mission critical software to more than 8,000 contractors in 28 countries, has been in the construction-specific software market for more than 35 years and has achieved more than 40 per cent average annual revenue growth since 2009.
Jay Haladay, Viewpoint’s chairman and CEO, will continue in his current role as will all members of the company’s executive and management team.
“The Viewpoint team is very pleased to partner with Bain Capital, a successful global investor in enterprise technology who brings strong knowledge of vertically-focused software as well as the resources and experience we need to continue to grow our business,” says Haladay. “Their financial and operational strength and strategic processes will expand the resources we have available to us and accelerate our objective to provide the innovative software solutions required by the increasingly complex global construction project marketplace. This investment continues the evolution of our company, extending and expanding both our product and service offerings as well as the customers we serve.”
“We have been incredibly impressed with the business culture and customer relationships that Jay Haladay and his team have built at Viewpoint,” says David Humphrey, a managing director at Bain Capital. “Their product vision and business execution have made them a fast-growing leader in the construction software market. We are very excited for the opportunity to work together to grow their business and extend their leadership position globally.”
Viewpoint currently has 700 employees committed to developing and supporting financial compliance, project management, project collaboration, estimating, mobile, content management and Building Information Modeling (BIM) software for construction industry professionals. These products can be obtained and used independently under the Viewpoint brand, or integrated into an end-to-end software suite.
Current investors Updata Partners and TA Associates are selling their interests in Viewpoint as part of the new growth investment.
