Home » Causeway Technologies secures £120m investment to boost digital solutions growth

Causeway Technologies secures £120m investment to boost digital solutions growth

by Liam Turner

Causeway has secured a £120m investment to fund strategic acquisitions and accelerate its organic growth strategy.

Causeway – a provider of enterprise and cloud software solutions to the construction and infrastructure maintenance industries – hopes to digitally connect the construction supply chain through further development of its cloud platform.

The investment follows a period of strong and consistent growth at Causeway, resulting in an earnings compound annual growth rate of 31% since 2015, driven by increased industry adoption of digital solutions and acquisitions that have broadened its product portfolio.

Causeway says the investment reinforces the opportunity in the construction sector and the need for solutions that address both the pace of digitalisation and productivity issues caused by complex supply chains and the transient nature of projects.

Five Arrows Principal Investments, the European corporate private equity arm of Rothschild & Co, made the investment in return for a significant minority stake in Causeway.

Commenting on the development, Phil Brown, chief executive and executive chair of Causeway, said: “This investment marks another leap forward for our business and for the value we can add to our customers.

“Our core purpose and passion is to digitally enable the global construction industry – the support of Five Arrows allows us to accelerate our work to help solve our customers’ challenges.

“Our ambition is to ensure that data flows seamlessly across the construction process, making our customers more efficient and their data more useful and actionable.

“That is the only way to drive better project outcomes, especially around value and quality.”

Brown continued: “While cloud-based tools and mobile connectivity have helped put solutions into people’s hands, much is still very fragmented in this industry.

“We are building a persona-based platform with relevant applications and data delivered to each member of the construction supply chain via their desktop or mobile devices.

“The platform will be open, making it easy to integrate with both third-party applications and any bespoke, customised applications that customers might have had developed.

“This approach will help break down silos and give businesses large and small, in all parts of the construction ecosystem, complete visibility and control over their projects and supply chains.”

Following completion of the transaction, Vivek Kumar (partner) and Sacha Oshry (managing director) of Five Arrows Principal Investments will join the board of Causeway.

Goldman Sachs served as financial adviser to Causeway Technologies and Torch Partners acted as financial adviser to Five Arrows.

Image: Phil Brown, chief executive and executive chair, Causeway

Read next: Mark Farmer: The state of MMC in 2021

Leave a Comment

Related News

Online building news, features and opinions

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More