Germany’s Nemetschek Group, the parent company of leading AEC/O industry brands including Allplan, Archicad, Bluebeam, and Vectorworks, among others, has announced its agreement to acquire Texas, USA-based Heavy Construction Systems Specialists, LLC (“HCSS”) from Thoma Bravo, the world’s largest software-focused investment firm.
Infrastructure Focus
Founded in 1986, HCSS is a leading provider of software for the infrastructure and heavy civil sectors of the North American construction market. The company supports more than 4,000 construction companies with a total employee headcount of 550 professionals.
Key Takaways
- HCSS acquisition strengthens the Nemetschek Group’s position in valuable North American infrastructure construction market and aligns well with other Build & Construct segment brands plus Allplan
- HCSS generates well over USD 200 million in revenue, marking a new substantial revenue generator for the Group
- Thoma Bravo partnership means Nemetschek SE shares exchange hands but helps Group maintain a flexible balance sheet and sharp posture for future M&A deals
As part of the terms of the agreement, HCSS will become part of the Nemetschek Group’s Build & Construct segment, aligning with industry-leading brands like Bluebeam and GoCanvas, two brands with very strong North American market share. Nemetschek states that the Build & Construct segment and HCSS have comparable and unique growth and profitability profiles. In 2025, HCSS generated plus or minus USD 215 million in revenue, an ARR growth of ± 21%, and an EBITDA margin of ± 40%.
The Nemetschek Group is set to acquire US-based Heavy Construction Systems Specialists, LLC (“HCSS”). The Texas-headquartered company is a major software provider for infrastructure and heavy-civil construction companies.
These financials are not just strong but align with the Group’s Build & Construct segment’s historical performance. More critically, the Group says that HCSS enables the Group to expand into the heavy civil construction sectors where structural growth drivers include aging assets, large-scale government investments (eg, Biden era Infrastructure Bill), ongoing energy transition in the age of AI and datacenter expansion, as well as continued urbanization. This will strengthen Nemetschek’s position in the total market opportunity estimated at USD 12 billion by 2028.
Thoma Bravo Partnership
In an effort to preserve the Nemetschek Group’s balance sheet flexibility, the transaction is tailored such that Thoma Bravo will receive shares in the Nemetschek Group’s Build & Construct segment.
Nemetschek SE will hold approximately 72% of the shares in the Build & Construct segment, and Thoma Bravo will hold approximately 28% as a minority shareholder. As part of the terms, the Group will refinance all existing HCSS financial debt and liabilities, resulting in an impact of approximately EUR 450 million on the Nemetschek Group net debt position.
While this arrangement sounds as if the Build & Construct segment could be spun out of the Group, Nemetschek SE says that the Build & Construct segment will continue to function as an integral part of the Group.
Maintaining balance sheet flexibility enables the Group to support future growth ambitions through targeted M&A. The transaction has no impact on the shareholder structure of Nemetschek SE.
Yves Padrines, CEO of the Nemetschek Group stated:
With the acquisition of HCSS, a highly recognized technology leader in infrastructure and heavy civil construction, we are taking our next major strategic step forward. We already hold a strong position in the building sector and are now further enhancing and scaling our position in the fast-growing infrastructure and heavy civil sector, which is underpinned by multiple structural growth drivers.
“This acquisition significantly expands our size and our total market opportunity, deepens our footprint in North America, and perfectly complements our existing portfolio of leading solutions in the Build & Construct segment”, continues Padrines. “It will give us an even greater ability to innovate and expand our reach using our strong AI innovation abilities. We welcome Thoma Bravo as a partner and minority shareholder in the Build & Construct segment. We look forward to working with them and the HCSS team to unlock new growth opportunities in our Build & Construct segment and deliver even greater value to our customers and shareholders.”
“The Nemetschek Group has built one of the world’s most incredible customer- and product-centric company cultures,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “The opportunity to merge HCSS with Nemetschek’s leading Build & Construct segment is a truly defining moment and we look forward to supporting the growth of the combined business. We have barely scratched the surface on the scale and speed of innovation that we can provide to customers of both companies, and we will work tirelessly together to fulfill the potential that the market deserves.”
“HCSS is a perfect fit for our Build & Construct segment,” said Usman Shuja, Chief Division Officer of the Nemetschek Group’s Build & Construct Segment. “Together, we can offer a best-in-class, end-to-end portfolio that enables customers to manage complex building and infrastructure projects with greater efficiency and confidence. By combining our complementary strengths, we will expand our global reach, accelerate AI-based innovation, and continue to deliver the trusted solutions our customers rely on in their daily work.”
The acquisition is expected to close in H2 2026 and is subject to regulatory approvals and closing conditions. J.P. Morgan is serving as exclusive financial advisor, Latham & Watkins and Hoffmann & de Vries are serving legal advisors to the Nemetschek Group.
