Through its subsidiary BCI Central, Byggfakta Group has acquired all of the shares in the American company Construction Monitor, LLC (Construction Monitor). Construction Monitor’s offering focuses on construction information, which is collected and sold primarily as a subscription service, to manufacturers, general contractors and subcontractors within the construction industry.
Construction Monitor was founded in 1989 and currently has approximately 1,500 subscription customers. Customers can access information about building permits and permits for solar panel installations, which is valuable information, not least for customers’ sales. Construction Monitor also offers several software solutions that streamline and improve customers’ ability to sort and respond to tenders.
“Construction Monitor is a very attractive company. Over time they have built a strong offering with good prospects and good profitability. It is also an excellent complement to our project information offering in the US. This acquisition enables us to significantly improve the quality of our project information database and, moreover, we will be able to use information from Construction Monitor to update and expand our existing project research in the US,” says Damian Eastman, CO-CEO APAC & US, Byggfakta Group.
Construction Monitor is expected to generate turnover of approximately MUSD 6 for 2023, with a strong EBITDA margin. Subscription revenue makes up over 90% of the company’s total revenue.
Construction Monitor’s operations are expected to be consolidated into Byggfakta Group in November 2023 and Construction Monitor will be integrated into Byggfakta Group’s existing US operations.
The acquisition is expected to have a marginal impact on Byggfakta Group’s earnings per share in 2023.