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Bain Exits Viewpoint Construction Software in $1.2 Billion Deal

Portland, OR-based construction software company Viewpoint Construction Software has agreed to be acquired by Silicon Valley-based Trimble Inc., in an all cash deal valued at $1.2 billion.

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The acquisition comes almost exactly four years after Boston-based private equity firm Bain Capital took a majority stake in the SaaS provider for $230 million. The PE shop will make $970 million on the deal, based on the difference between its acquisition price in 2014 and the current selling price, yet it is unknown how much the investor put into the company in addition to the purchase price over the recent years. While the deal includes various fees that will be paid related to the transaction, the only detail being released is the unicorn transaction value of $1.2 billion.

Viewpoint, founded in 1976, sells software that helps large construction industry clients perform back office functions including planning and management of large projects, tracking time cards, allocating resources and measuring progress. The business will become part of Trimble’s Building and Infrastructure Segment, which generated revenues of $835 million in 2017.

Publicly-held Trimble trades on the Nasdaq exchange under the ticker symbol TRMB. The Sunnyvale, Calif.-based company posted 2017 revenues of $2.65 billion. Trimble, which makes technology for the construction, agriculture and transportation markets, expects about $200 million in additional revenue from Viewpoint in 2018.

The deal is scheduled to close in third quarter quarter of 2018, subject to regulatory approvals. Trimble says its most recent deal will compliment its previous acquisition of e-Builder, a Florida-based construction program management software maker as it seeks to expand its set of technology solutions for the construction industry.

Viewpoint employs 700 people, and indicates that its Portland office will remain the center of its operations as it continues to build out its team and hire “aggressively.” Within Trimble, the company says it will operate with a large degree of independence and maintain its executive team and employees.