Nemetschek and Thoma Bravo Combine HCSS with Build & Construct Segment

Nemetschek Group and Thoma Bravo have entered into a definitive agreement to combine HCSS, a leading heavy civil construction software provider, with Nemetschek’s Build & Construct segment. Under the terms, Nemetschek will hold approximately 72% ownership of the combined segment, while funds managed by Thoma Bravo will retain a 28% minority stake. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.

HCSS, founded in 1986, specializes in construction management software designed to connect office and field operations across the lifecycle of heavy civil and infrastructure projects. Its flagship products, HeavyBid and HeavyJob, support estimating, job costing, project management, safety, and fleet management. The company serves over 4,000 customers across the United States and Canada, including clients responsible for 75% of work in 50 U.S. Department of Transportation markets.

Nemetschek’s Build & Construct segment includes established construction software brands such as Bluebeam, GoCanvas, and Nevaris, which serve various verticals within architecture, engineering, construction, and operations (AEC/O). The combination with HCSS aims to create a comprehensive portfolio spanning the entire construction lifecycle, enhancing collaboration and accelerating innovation through AI-driven solutions.

Steve McGough, President and CEO of HCSS, highlighted the strategic benefits: “Becoming part of Nemetschek’s Build & Construct segment will unlock tremendous opportunity for HCSS. Our strengths in heavy civil construction software complement the existing solutions, creating a broader, more powerful platform for customers.” Drew Thomas, CFO of HCSS, added that the deal continues their long-standing commitment to delivering customer-focused solutions.

Thoma Bravo, the world’s largest software-focused investment firm with over $183 billion in assets under management as of December 2025, has owned HCSS for four years. During this period, HCSS expanded its platform and accelerated innovation while maintaining a customer-first culture. A Senior Partner at Thoma Bravo noted that the combination with Nemetschek represents a “once-in-a-lifetime opportunity” to scale HCSS’s culture and performance globally.

The transaction is expected to generate significant synergies by combining complementary technologies and customer bases. Cross-selling opportunities, expansion into adjacent markets such as utilities, and streamlined R&D efforts are key drivers. The combined entity will be well-positioned to benefit from structural growth trends including aging infrastructure, government investments, energy transition, and urbanization.

Financial advisors to Thoma Bravo include Deutsche Bank Securities, Citi, and Centerview Partners, with Kirkland & Ellis LLP as legal counsel. Nemetschek is advised by J.P. Morgan, Latham & Watkins, and Hoffmann & de Vries.

Looking ahead, the integration will focus on aligning product roadmaps, enhancing interoperability, and leveraging AI to deliver next-generation construction technology solutions. The combined firm aims to strengthen its leadership in construction software globally, expanding its reach across the U.S., Europe, and other markets served by Nemetschek.