Builder's Profile is a niche provider of software to construction contractors for managing information on subcontractors.
The buyer, Align Bidco Limited, is a vehicle of New York-based private equity firm Warburg Pincus, which paid Capita £160m in 2018 for its Supplier Assessment Services division, including Constructionline. It also has a software business called Altius VA for the rail and facilities management sectors.
This group will be rebranded in the coming weeks as Fortius.
The new owners plans to expand the business beyond construction to any market that might benefit from improved management of supply chains, including facilities management, transport, hospitality and other service-related industries.
The three businesses will be operated separately ‘for the foreseeable future’, the buyers said, and will cross-sell services on a non-exclusive basis. The acquisition is subject to customary closing conditions and is expected to complete during the second quarter of 2020.
Fortius chairman Simon Gibbs said: “Our ambition to grow our group into the market for self-assessment software is accelerated through the purchase of Builders Profile, and we look forward to working with the team to grow the services that it provides to its existing clients and eventually taking the concept to a wider market.”
Paul Long, managing director and former co-owner of Builder's Profile, said: “We're delighted to become part of the Fortius Group, and we're confident our existing customers will continue to receive the high levels of customer service they've come to expect. Being part of a larger financially stable group gives us the basis to build for the future.”