Mid-market private equity firm LDC and the Royal Institute of British Architects (RIBA), have agreed the sale of NBS to Byggfakta Group.
Byggfakta is a data and software provider to the European construction industry headquartered in Sweden.
Headquartered in Newcastle UK, NBS is a global technology platform that combines the best content and connectivity for anyone involved in the design, supply and construction of the built environment.
LDC and the RIBA partnered to support the growth of NBS in June 2018, with LDC investing £31.8m to help drive NBS’s future product development and international expansion plans. The sale follows a period of significant revenue and EBITDA growth for NBS.
NBS marks Byggfakta Group’s first expansion to the UK and follows the recent acquisitions of Vortal in Portugal and Olmero in Switzerland.
The transaction was led, on behalf of LDC, by Chief Executive Martin Draper and Head of Yorkshire Dan Smith.
Martin Draper, Chief Executive of LDC comments: “The success of NBS over the last two and a half years proves the value of LDC’s approach to supporting experienced and ambitious management teams with the resource, capital and network to grow their businesses.
“They have delivered both international expansion and significant new product development in a short period of time to create a solid foundation for continued growth. We wish NBS all the best on the next stage of their growth journey with Byggfakta Group.”
Byggfakta Group CEO Stefan Lindqvist comments: “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.”
The completion of the transaction is subject to the customary regulatory approvals.
The shareholders of NBS were advised by BofA Securities and Addleshaw Goddard. Byggfakta Group was advised by Goodwin Procter.