Nemetschek to Buy Thoma Bravo’s HCSS in €2 Billion-Plus Deal (4)

Nemetschek SE agreed to acquire construction management software provider Heavy Construction Systems Specialists from Thoma Bravo.

HCSS will become part of the Munich-based engineering software company’s Build segment, according to a statement Monday, confirming an earlier Bloomberg News report. Yves Padrines, chief executive officer of Nemetschek, confirmed the deal values HCSS at more than €2 billion ($2.4 billion), or slightly above 20 times its 2025 earnings before interest, taxes, depreciation and amortization.

Thoma Bravo, which acquired HCSS in 2021, will take a 28% stake in the Build segment, which also includes the brands Bluebeam and GoCanvas. Nemetschek said the ...