April 03, 2023
A message from our CEO:
The Newforma team and I are thrilled to share that Ethos Capital is our new majority investor. They are committed to investing in our growth and believe in our vision for the future. With Ethos Capital’s resources and expertise, we’re more confident than ever that we will accelerate our ambitious goals while making a lasting impact on the architecture, engineering, construction, and owner industry.
We invite you to join us on the next leg of this exciting journey. In the coming months, we’ll launch an important new product that we’re confident will further drive efficiency and collaboration in the AECO ecosystem. We can’t wait to share more details with you soon.
We’re excited to leverage Ethos’ sector-specific operating expertise as we continue to innovate and provide immense value to our clients.
Please take a moment to read the press release below and share our excitement for the future of Newforma. We can’t wait to see our future unfold and are grateful for your continued support.
Brock Philp, CEO of Newforma
BOSTON, April 03, 2023–(BUSINESS WIRE)–Ethos Capital LP (“Ethos”) announced today that it has acquired Newforma, Inc. (“Newforma”), a leading collaboration platform helping companies deliver complex architectural, engineering, and construction projects more efficiently and cost-effectively.
Based in Boston, Newforma provides Project Information Management (PIM) and Building Information Modeling (BIM) collaboration solutions to customers across the architecture, engineering, construction, and owners (AECO) industry. Newforma’s connected strategy enables AECO stakeholders to effectively engage in a complex ecosystem while fueling productivity, reducing risk, and delivering projects on budget and on time.
“Brock and the Newforma team have done an exceptional job building a market-leading technology platform to meet the rapidly evolving needs of the AECO industry,” said Erik Brooks, Founder and Co-CEO of Ethos Capital. “Our team of Executive Partners is uniquely positioned to support Newforma in accelerating product development, cloud migration and the delivery of incremental value to clients.”
“We’re thrilled to partner with Ethos Capital as we continue to deliver innovative technologies and products that connect the AECO ecosystem and facilitate information exchange,” said Brock Philp, Chief Executive Officer of Newforma. “We look forward to leveraging Ethos’ sector-specific operating expertise as we launch our new cloud-based collaboration platform.”
“We’re establishing this partnership at an exciting time, as Newforma launches its enhanced cloud platform and invests in new product features,” said Gregg Monastiero, Executive Partner at Ethos Capital. “We believe Newforma will continue to provide immense value to users by enabling coordination and information sharing amongst industry stakeholders.”
Ethos was advised by Harris Williams LLC (exclusive financial advisor) and Kirkland & Ellis LLP (legal advisor). Newforma was advised by Aeris Partners LLC (exclusive financial advisor) and Cooley LLP (legal advisor).
About Ethos Capital LP
Ethos was established to make majority and control minority investments in middle-market information service companies, primarily across North America and Europe. The organization provides operational expertise to companies through a dedicated team of 17 Executive Partners. Ethos’ strategy is to add value by partnering with existing management teams to strategically enhance operations and accelerate growth. For further information visit ethoscapital.com.
Newforma’s industry-leading project information management (PIM) software streamlines communication, manages files and simplifies construction administration for architects, engineers, contractors, and owners. Our software will reduce the amount of time spent on administrative tasks, streamline project workflows and power real-time collaboration for project teams. Newforma software has more than 122,000 users in more than 1,200 firms. For further information visit newforma.com.
Mark Semer / Justin Dechiario
Gasthalter & Co.