Amtech is the UK’s leading independent developer of software and data services for the mechanical & electrical (“M&E”) building services industry.
Amtech has been developing software for electrical contractors and the wider building services industry since 1984. Clients range from small businesses to major contractors and multi-national corporations. The product range includes four market-leading product suites: software for electrical design, testing and inspection; estimation and cost control software; product and pricing information for the M&E market (including an online portal); and digital specification libraries for building standards and codes of practice.
The Big Idea
Management were keen to broaden Amtech’s proposition by investing in the strategically important Business Information Modelling (“BIM”) market. To achieve this, they needed to first complete a buyout from their incumbent bank investor. Primary was chosen from a number of potential backers as the best party to deliver the £35 million deal and support management in their ambition to develop the BIM opportunity and significantly grow the business in new markets.
The Grand Plan
We supported Amtech’s move into the BIM market with the acquisition of ArtrA, one of the world’s leading software applications for creating smart models of buildings, leading to substantial efficiency savings during a building’s lifecycle, from construction to maintenance and facilities management. In addition, we assisted the business in strengthening the management team and supporting the wholesale redevelopment of the product suite.
The Bottom Line
With the redevelopment of most of the existing product suite and the acquisition of ArtrA, Amtech consolidated its leading position in the UK M&E market. The company was sold to Trimble (NASDAQ: TRMB) in November 2014.
Date of investment: March 2010
Deal status: Realised
Date of realisation: November 2014
Investment return multiple: n/d
Company website: www.amtech.co.uk
For more information talk to: Peter Jacobs or Alistair Armstrong