Harris Williams Advises Ethos Capital on its Acquisition of Newforma
April 03 2023 - 2:14PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Ethos Capital LP
(Ethos) on its acquisition of Newforma, a provider of project
information management (PIM) software for architects, engineers,
contractors, and owners worldwide. The transaction was led by
Priyanka Naithani and Ryan Costa of the Harris Williams Technology
Group.
“As the number of stakeholders in a construction project grows
and a vast amount of data is created and utilized throughout the
construction lifecycle, Newforma plays a critical role unifying
project data and enabling collaboration amongst stakeholders,” said
Priyanka Naithani, a managing director at Harris Williams. “It was
a pleasure working with Co-CEO Erik Brooks, Partner Chris Ritchie,
and the rest of the Ethos team on this transaction, and we are
excited to see what Newforma accomplishes in partnership with
Ethos.”
“This represents another high-profile transaction for Harris
Williams in the broader architecture, engineering and construction
software sector,” said Ryan Costa, a director at Harris Williams.
“The sector is undergoing a period of massive investment in
software and technology solutions to increase connectivity between
project stakeholders, manage labor and supply-chain constraints,
and ensure projects are delivered on schedule and on budget. We
expect strong investor and strategic buyer interest to continue as
the underlying trends across the construction and construction
software sectors remain strong.”
Ethos was established to make majority and control minority
investments in middle market information service companies,
primarily across North America and Europe. The organization
provides operational expertise to companies through a dedicated
team of 17 Executive Partners. Ethos’ strategy is to add value by
partnering with existing management teams to strategically enhance
operations and accelerate growth.
Newforma’s industry-leading PIM software streamlines
communication, manages files, and simplifies construction
administration for architects, engineers, contractors, and owners.
Newforma’s software reduces the amount of time spent on
administrative tasks, streamlines project workflows and powers
real-time collaboration for project teams. Newforma software has
more than 122,000 users in more than 1,200 firms.
Harris Williams is a global investment bank specializing in
M&A advisory services. Clients worldwide rely on us to help
unlock value in their business and turn ambitious goals into
reality. We approach every engagement with boundless collaboration,
pooling expertise and relationships across industries and
geographies to uncover the unique story of each company. For over
30 years, our clients have trusted us to think strategically,
execute precisely, and deliver premium outcomes through
M&A.
Technology is ubiquitous in today’s global economy, with most
sectors and industries rapidly adopting software and data solutions
as companies seek to increase competitiveness and enhance
productivity. Led by seasoned and passionate professionals with
strong vertical and horizontal experience, the Harris Williams
Technology Group partners with both growth capital and private
equity investors as well as company leaders around the globe. Our
clients rely on us to navigate the ever-evolving technology M&A
landscape. Our Technology Group has deep expertise across
application and vertical software as well as technology and data
services.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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Julia Moore media@harriswilliams.com
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