UK construction software developer sold to Canadian group
Canadian construction software vendor JDM Technology Group has acquired Witney-based Estimate Software, a leading provider of construction estimating software, in a deal advised by BCMS.
Estimate Software provides estimating and take-off software as well as price libraries for the construction industry in the UK and worldwide. The acquisition strengthens JDM Technology Group, with a broader offering of estimating software solutions to its existing customer base as well as increased construction software offerings to Estimate's customers.
"We are pleased to complete this transaction with the JDM Technology Group," said Estimate co-owner Barry Groom.
"Working with our customers and the construction industry has been very rewarding. As we considered next steps, we looked for an acquirer that could serve our customers and continue our legacy by building the Estimate brand and organisation. With its focus on customer-service and construction software, I'm confident the JDM Technology Group is the right choice. Our customers will be supported by a group of leading construction software organisations that are unparalleled as they collaborate in redefining the future of the construction industry."
Having acquired numerous companies since 2004, the JDM Technology Group has established a proven strategy for integrating acquired companies into its existing infrastructure. Estimate Software will continue to operate as a separate brand with its existing staff, while combining with the resources of Integrity Software Systems, a JDM Technology Group company based in Lincoln, UK with which Estimate shares some customers.
Sophie Hurst, Managing Director of Integrity Software, will lead Estimate Software and oversee day-to-day operations of both Estimate and Integrity. Both Barry Groom and John Forster will continue with the company during the transition period.
JDM Technology CEO Jim McFarlane added: "Our buy-and-build strategy ensures that customers continue to have access to the best technology globally. In addition, by retaining the Estimate staff and organisation, customers will continue to receive service and support from the same people they are used to.
"As well, we do not end-of-life any products, allowing customers to continue with their preferred software. This strategy creates strong growth and enables the JDM Technology Group to continue to be an excellent home for leading construction software companies."
BCMS advised Estimate Software with legal support from Freeths LLP.
BCMS Lead Advisor Luke Rebbettes commented: “We are delighted to have played our part in securing the future of Estimate Software. The fact that a Canadian company won the day demonstrates our belief that a good advisor has to search far and wide for the right buyer. We wish them well for the future.”