Birmingham-based firms Blue Sky Corporate Finance and The Wilkes Partnership have advised on the sale of construction software company, Synchro Software.
Synchro Software was recently acquired by US-based Bentley Systems Inc., a leading global provider of software solutions for advancing infrastructure. Synchro is the leader (and market creator) in 4D construction modelling software for scheduling and project management, and its software has been globally adopted for building and infrastructure projects. With Synchro, 3D BIM (Building Information Modelling) deliverables are linked with the 4D time dimension.
Synchro CEO Tom Dengenis, who will remain with the business, commented: “Blue Sky and Wilkes handled the sale from start to finish, showing huge commitment and focus. They dealt effortlessly with multiple shareholders and cross-border issues and delivered the deal in a professional but user-friendly manner.”
The Wilkes team was led by corporate partner Jeremy Parkin, assisted by Mike Linford. “We were delighted to work with Tom and the Blue Sky team on the deal and wish Tom every success as the business is taken to the next level under Bentley,” said Parkin.
Blue Sky managed the sale process. Managing Director Paul Heaven commented, “We have enjoyed a close relationship with Synchro for some 12 years, assisting the company with some of its early seed investment rounds, providing accounting and administration services and serving its board of directors throughout its growth.
There was a good deal of interest in buying this company, and it proved to be a cultural adventure to deal with potential partners across the world (including China and Europe), but in the end, the synergy and chemistry between the key management teams at Bentley and Synchro proved to be the decisive factor. Having witnessed how those relationships have strengthened during the due diligence process, I am confident that this was the right deal for Synchro and all of its stakeholders and that the Bentley/Synchro combination will prove to be a highly successful one.”