SAN FRANCISCO – April 13, 2026 – Thoma Bravo, the world’s largest software-focused investment firm, today announced it has entered into a definitive agreement to combine HCSS, one of the world’s largest heavy civil construction software companies, with the Build & Construct segment of the Nemetschek Group (FWB: NEM) (“Nemetschek”), a leading global provider of software solutions for digital transformation in the architecture, engineering, construction, and operations (AEC/O) and media industries.
This combination will create a new construction technology powerhouse, and HCSS will join other brands in Nemetschek’s Build & Construct segment who are leaders in their respective construction software verticals, including Bluebeam, GoCanvas, and Nevaris. Under the agreed-upon ownership structure, Nemetschek SE will hold approximately 72% of the shares of the Build & Construct segment and funds managed by Thoma Bravo will hold approximately 28% as a minority shareholder.
Under Thoma Bravo’s four years of ownership, HCSS built on its 40-year track record as a category leader in heavy civil construction software by investing to expand its platform, strengthening its leadership, and accelerating innovation while maintaining its customer-first culture. HCSS significantly advanced its flagship solutions, including HeavyBid and HeavyJob, and invested in new product capabilities and adjacent end markets such as utilities. HCSS’ software is trusted on some of the world’s most iconic projects and its customers now win 75% of work across 50 U.S. Department of Transportation markets and produce 40% more bids than competitors.
This transaction will create a construction technology powerhouse with complementary technologies, customer bases, and regional strengths. The combined firm will be positioned to capitalize on strong structural growth drivers including aging infrastructure, large-scale government investments, energy transition, and urbanization. HCSS customers are expected to benefit from a best-in-class, end-to-end portfolio spanning the entire construction lifecycle, enhanced collaboration and improved quality of construction workflows both in the office and in the field, and accelerated AI-based innovation that continues to deliver the trusted solutions customers rely on in their daily work.
"We are deeply grateful for Thoma Bravo’s support over the past four years, which has helped strengthen our foundation and position us for long-term success," said Steve McGough, President and CEO of HCSS. “Becoming part of Nemetschek’s Build & Construct segment will unlock tremendous opportunity for HCSS and we’re thrilled that Thoma Bravo will continue alongside us. Our strengths in heavy civil construction software complement the Build & Construct segment’s existing solutions, creating a broader, more powerful platform for customers. This combination positions us to accelerate growth, expand our reach, and deliver new capabilities that will shape the future of infrastructure construction."
“The combination brings together two like-minded organizations that focus on putting our customers and employees first,” added Drew Thomas, CFO of HCSS. “It continues our consistent, multi-decade track record of delivering solutions that meet our customers’ needs.”
“One of the great honors of building our funds over decades has been our journey together with HCSS, alongside Steve, Drew, and their entire management team,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “When we considered ways we could leverage HCSS’ incredible culture and performance at a greater scale, we identified this combination with Nemetschek’s Build & Construct segment as a once-in-a-lifetime opportunity. Both organizations are leading the global AI revolution in construction design, planning, execution and collaboration, and together they will have the platform, talent, and ambition to continue setting the pace for the entire industry.”
"HCSS has long set the standard for heavy civil construction software with the best tools in the industry for estimating and field operations, while Bluebeam is unmatched as the industry standard in digital blueprints and drawings across all of architecture, engineering and construction” said George Jaber, a Principal at Thoma Bravo. “This transaction brings together the two most innovative products in construction technology to build a global industry powerhouse.”
The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.
Kirkland & Ellis LLP is serving as legal advisor and Deutsche Bank Securities Inc., Citi, and Centerview Partners LLC are serving as financial advisors to Thoma Bravo.
Latham & Watkins and Hoffmann & de Vries are serving as legal advisors and J.P. Morgan is serving as exclusive financial advisor to the Nemetschek Group.
About Thoma Bravo
Thoma Bravo is the world’s largest software-focused investment firm, with more than $183 billion in assets under management as of December 31, 2025. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in over 580 software and technology companies, representing approximately $305 billion of aggregate value (including control and non-control investments, as well as add-on acquisitions). Learn more at thomabravo.com and on LinkedIn.
About HCSS
HCSS is the leading provider of construction management software designed to connect the office to the field across the lifecycle of infrastructure and heavy civil projects. Founded in 1986, HCSS has established itself as the industry leader by offering a comprehensive platform to enhance productivity, streamline communication, and improve project outcomes. HCSS’ platform covers every aspect of heavy civil and infrastructure projects, from preconstruction to project closeout. Solutions offered include estimating, job costing, project management, safety, and fleet management. By centralizing project data, HCSS ensures all stakeholders have real-time access to critical information, enabling more informed decision-making and reducing the risk of errors and rework. With 24/7 instant support and a proven 90-day implementation process, HCSS has helped improve operations for over 4,000 companies ranging from $1M to billions in revenue across the United States and Canada. Learn more at hcss.com.
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