NBS JOINS BYGGFAKTA TO BOLSTER GROWTH
NBS enters the next phase of its development as it joins the Byggfakta Group, with backing from Stirling Square Capital Partners and TA Associates
NBS, the construction technology platform, today announces that it has joined the Byggfakta Group, a leading data and software provider to the European construction industry. Byggfakta Group is backed by private equity firms Stirling Square Capital Partners and TA Associates.
NBS has a long track record in providing information and tools to the construction industry, and in recent years has transformed into a leading Software as a Service (SaaS) provider. The NBS platform brings construction specifiers, manufacturers and contractors together, to improve the quality of project decision making, drive product specification and provide critical insights, through a unique digital toolset.
The company has grown significantly in the last two years, both organically and via acquisitions, resulting in increased international revenues, with permanent bases now established in both Canada and Australia, alongside the recent acquisition of SCL Schumann and Ezyspec in Australia.
The company also invested significantly in its product suite, transitioning legacy on-premise products into two flagship cloud-based solutions, NBS Chorus and NBS Source.
NBS, based in Newcastle, UK, will continue as a prominent brand in the construction space, and increased investment will boost product development and international expansion plans. It will continue its long-standing partnership with the RIBA on the delivery of the RIBA CPD Providers’ Network.
NBS marks Byggfakta Group’s first expansion to the UK and follows the recent investments in Vortal in Portugal and Olmero in Switzerland. The NBS investment will enable Byggfakta Group to broaden its scope both geographically and functionally, and to strengthen its position as a leading data and technology provider to the construction industry, spanning project information, product information, specification, e-tendering, and e-billing.
Colin Smith, Executive Chairman, NBS, says,
“We are delighted to be joining the Byggfakta Group. 2020 saw an acceleration of technology adoption in the construction sector, which is set to continue for years to come. NBS has benefited from this trend and will continue to keep pushing ahead of the curve. Partnering with Byggfakta Group and its investors is an exciting development that will give us the support we need to scale up further and faster. NBS will be taking its products to new markets and will continue to improve its offering to existing customers.”
“We will continue serving our customers with our existing products and services, but with the reach of a significant industry player and substantial financial backing. 2021 will be extremely exciting as we push on with new developments and enter into new markets.”
Smith concludes, “I’d also like to thank RIBA and LDC for their support and backing in helping us get to where we are today.”
Byggfakta Group CEO Stefan Lindqvist said,
“We have long known about and admired NBS and its unique position in the UK construction market. With the support of RIBA and LDC, and under Colin’s leadership, NBS has become an attractive, SaaS-native technology vendor and we are excited to welcome the company, its employees, and its customers into the Byggfakta family.”
Completion is subject to the customary regulatory approvals.