MUNICH, April 14 (Reuters) - Nemetschek's CEO Yves Padrines said on Tuesday private equity firm Thoma Bravo could eventually sell its stake in the company's construction software division through an
Nemetschek CEO: Thoma Bravo May Exit Stake via IPO After HCSS Acquisition
Nemetschek's Acquisition of HCSS and Thoma Bravo's Potential Exit Strategies
Overview of the Acquisition Deal
MUNICH, April 14 (Reuters) - Nemetschek's CEO Yves Padrines said on Tuesday private equity firm Thoma Bravo could eventually sell its stake in the company's construction software division through an initial public offering.
The German software house announced on Monday it would acquire HCSS, an U.S. company specialised in civil engineering and construction software, from Thoma Bravo, which, in return, would receive a 28% stake in Nemetschek's construction software division Build & Construct.
Thoma Bravo's Exit Options
"For a later exit of Thoma Bravo, there are three options: We could buy back some of their shares, they could sell it to another sponsor, or – which would be the preferred option for Thoma Bravo – we could do an IPO for the unit. But Nemetschek would always remain a majority owner," Padrines told Reuters.
Valuation and Financial Details
The deal, which will combine HCSS with Build & Construct, is based on a valuation of more than 20 times HCSS's operating profit (EBITDA), Padrines added.
HCSS recorded an EBITDA of around $86 million in 2025.
Background and Negotiation Process
Padrines said the asset was on the company's radar for few years and that talks lasted for more than a year. "Thoma Bravo didn't want to sell yet. If there would have been an investment process, (it) would have been difficult to have the financial firepower to compete," he said.
Reporting Credits
(Reporting by Alexander Huebner, writing by Emanuele Berro, editing by Linda Pasquini)
