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Portland, Ore.– April 22, 2014 - Viewpoint Construction Software®, a leading provider of innovative software solutions and services to the construction industry, announced that Bain Capital Private Equity, one of the world’s foremost privately-held alternative investment firms, has made a major growth equity investment in the business designed to extend Viewpoint’s reach in the global construction market. Viewpoint, which provides mission critical software to more than 8,000 contractors in 28 countries, has been an innovator in the construction- specific software market for more than 35 years, and has achieved more than 40 percent 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,” said 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,” said David 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 a powerful end-to-end software suite. Different configurations of Viewpoint solutions provide support to a broad customer base ranging from small local contractors to multi-billion dollar global firms. Viewpoint’s evolution has included the introduction of organically developed construction-specific products coupled with the acquisition of strategically important extensions to its software capabilities and markets.
Current investors Updata Partners and TA Associates are selling their interests in Viewpoint as part of the new growth investment.
“Updata is very pleased to have been involved in Viewpoint’s great success in the last four years,” stated John Burton of Updata Partners. “I am confident that their market leadership will continue its great momentum.”
“TA Associates has been very pleased to play a constructive role in Viewpoint’s evolution,” said Harry Taylor, Managing Director of TA Associates. “We believe Viewpoint is at an exciting inflection point and look for them to quickly prove to be the global leader in construction software.”
Credit Suisse and Canaccord Genuity Inc. acted as financial advisors, and Goodwin Procter LLP served as legal counsel to Viewpoint. Wells Fargo acted as financial advisor, and Kirkland & Ellis LLP served as legal counsel to Bain Capital Private Equity.######
Viewpoint is a leading provider of innovative software solutions and services to the construction industry, meeting the collaboration and information needs of a variety of professionals including small, medium, large and enterprise contractors. Viewpoint solutions include takeoff and estimating, project management, accounting solutions, enterprise resource planning, project and BIM collaboration, mobile field-to-office and enterprise content management. Headquartered in Portland, Oregon, Viewpoint’s customers include more than 30 percent of the ENR 400, and the company has more technology partnerships with the top 50 mechanical and electrical contractors in the United States than any other construction software provider. Viewpoint has become the technology partner of choice to the construction industry by delivering the right solutions on the right platform, including cloud, SaaS and on premise, and by providing customers throughout the U.S., Canada, the United Kingdom, Europe, the Middle East and Australia with improved accountability, efficiency and productivity. For more information, please visit www.viewpointcs.com.
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 400 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
This press release has been updated to reflect the new business unit name, "Bain Capital Private Equity," which was changed from "Bain Capital" or "Bain Capital, LP."