Reading, UK, 27 November 2014: Sixteen years since Business Collaborator was first commercially launched, the renowned product suite and the team behind it has been bought from UNIT4 in a management buyout in conjunction with YFM Equity Partners. Together they are looking to invest in and accelerate business growth in the nascent Building Information Modelling (BIM) software market.
Business Collaborator, a pioneer in document management and project collaboration solutions, provides asset delivery and management solutions for many prestigious customers in the architecture, engineering, construction and asset management sectors.
For the last few years the company has been preparing for and investing in its future; supporting the BIM needs of its customers and the market. Leveraging cutting edge research around the semantic web, the company has built an open, flexible platform structured around lifecycle asset data.
The demand for BIM software is expected to increase significantly as a result of the cost savings it can deliver to construction firms and asset owners, supported by government regulations. A recent National Building Specification Survey* revealed that BIM software has delivered cost efficiencies for 61% of construction companies already using it.
The announcement today will allow for an accelerated roadmap and the ability to bring this exciting new technology and its sister products to even more customers as the market moves to an exciting digital future in BIM.
Sanjeev Shah, CEO of Business Collaborator Ltd, said: “Business Collaborator is the right product at the right time for the construction industry which is now seeing a revival. With the UK Government insisting from 2016 that projects must use BIM, our business is at the forefront of this development and with YFM Equity Partners we can capitalise on this market demand.”
Richard Beaton will join the business as Chairman. Richard has successfully grown and sold a number of software businesses in the construction and other sectors, including Boldon James (sold to Qinetiq) and Tekton (sold to Sage). He is also currently Chairman of Eque2, a leading ERP software company serving the construction sector.
Richard Beaton, Chairman, Business Collaborator Ltd added: “BIM is reinvigorating the existing collaboration software market and Business Collaborator is well placed to capitalise on this opportunity. I am delighted to be working with YFM Equity Partners again and looking forward to another productive venture together.”
Giles Whitman, Investment Director at YFM Equity Partners, who led the deal said: “YFM has a strong track record of working with market leading businesses in specialist areas that have transformational growth opportunities. With this experience, Richard’s credentials in the sector, and management’s strong track record, we are confident that Business Collaborator has an exciting future ahead of it.”
Business Collaborator Ltd will be a global partner of UNIT4. UNIT4 will continue to use Business Collaborator both internally and with their partners and will continue to offer best in class integration with the Agresso Document Library. Furthermore, Business Collaborator Ltd will exclusively provide the BIM platform for UNIT4 customers in the UK as part of this ongoing partnership.
Business Collaborator is hosted in UNIT4 Cloud – a robust and secure offering located at NGD in the United Kingdom. The companies will continue to share an office in Reading.
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* NBS Survey (part of the Royal Institute of British Architects) – “NBS National BIM Report 2014” – //www.thenbs.com/pdfs/NBS-National-BIM-Report-2014.pdf
Business Collaborator Ltd is a software company that develops document management, project collaboration, BIM, project assurance, tendering, property and asset management solutions available in the cloud or on premise.
Based in Reading, United Kingdom, with a core team of people who have worked together since 1998 they work closely with customers to ensure that they deliver the solutions they need.
For more information about Business Collaborator Ltd, please visit the website at www.groupbc.com.
YFM Equity Partners (www.yfmep.com) has a 30 year business history of investing in and transforming fast-growing small UK companies. We invest up to £10 million of equity in established UK businesses across all sectors. Through our regional office network, we are dedicated to working alongside management teams to create transformational growth and success.
Recent YFM Equity Partners investments include The Heritage Window Company, Macro Art and Intelligent Office. Its portfolio also includes: cyber security firm, Deep Secure, kitchen manufacturer and retailer, Harvey Jones, outdoor equipment and clothing retailer Go Outdoor and specialist engineer Seven Technologies.
YFM Equity Partners invests through its subsidiary YFM Private Equity Limited which is registered in England and Wales, Co No: 2174994. Registered Office: 5th Floor, Valiant House, 14 South Parade, Leeds, LS1 5QS. YFM Private Equity Limited is authorised and regulated by the Financial Conduct Authority, FRN: 122120 and is ultimately owned by YFM Equity Partners LLP.