Sources: Thoma Bravo, San Francisco; CP staff
Sugar Land, Texas-based construction estimating, operations, and fleet management software provider HCSS has entered into a definitive agreement to be acquired by Thoma Bravo, a major technology investor that closed on Command Alkon in early 2020 and characterizes its latest construction target as “a leader and pioneer in the industry with a long track-record of developing software to help companies streamline their operations … known for its wide range of innovative products and world-class 24/7 instant support by knowledgeable support techs.”
“HCSS is leading the way in connecting the entire construction ecosystem with real-time production data and visibility that has never existed before,” observes Thoma Bravo Vice President George Jaber. “We will invest heavily in this initiative and are excited about the benefits it will bring to the company, its employees, and its customers.”
HCSS users can expect to see innovation and more efficiencies in supply chain software that provides information faster and dramatically reduces administrative work and errors. “My vision is that foremen, superintendents and project managers will be able to easily order materials from the HCSS applications they already use and track the status of those materials at all times through final placement,” says HCSS Founder and CEO Mike Rydin. “While we have sustained double digit annual growth for more than 20 years, Thoma Bravo’s knowledge of international markets will accelerate growth for our product suite on a global scale.”
“Thoma Bravo is the ideal strategic partner because of their expertise and focus, but also because of their long-term perspective,” adds HCSS President and Chief Financial Officer Steve McGough. “It’s the combination of the cultural fit and alignment and their track record of success in helping market-leading businesses drive new levels of growth and maturity that makes this such an exciting partnership.”
“The heavy construction market is poised to undergo its most significant historical change in both innovation and industry investment, and we can’t wait to see what we can do together with HCSS to enable their customers to stay ahead,” affirms Thoma Bravo Senior Partner A.J. Rohde.