Nemetschek Group to Acquire GoCanvas Holdings Inc.
Accelerating the Digitalization in the Construction Industry
Nemetschek Group
June 6, 2024
Agenda
2 | Nemetschek Group | June 6, 2024 |
3 | Nemetschek Group | June 6, 2024 |
Strategic Rationale
Accelerate the Digitalization in the Construction Industry
Innovative and fast-growing company
Best-in-class portfolio for Built environment
Compelling
Synergies
- Leading provider of SaaS solutions for enhancing productivity and safety through paperless collection, reporting and integration of field data in construction and adjacent verticals
- Strong growth record of ~20% p.a. with an ARR of USD 67m in 2023
- > 300 employees based in the US, Canada, Australia and South Africa
- Perfect fit with Nemetschek's Build & Construct Division portfolio strategy
- Combining Bluebeam office worker and GoCanvas field worker customer bases will create a unique construction ecosystem
- Accelerate Nemetschek Group's successful Subscription/SaaS transition
- Complementary technology, customer base and geography
- Increased total addressable market (TAM) via strong cross-selling opportunities and newly addressable verticals and customer groups
- GoCanvas further strengthens Nemetschek Group's position in North America while Nemetschek will provide GoCanvas a unique footprint to expand in Europe and Asia/Pacific
4 | Nemetschek Group | June 6, 2024 |
GoCanvas: Company Snapshot
Leading provider of SaaS solutions for digital forms & work process management and safety solutions
for the construction industry
Eliminate Paper: | Facts & Figures (FY-23) |
Go Digital, Go Smarter, Go Safer, | |
and Go More Efficient | |
- Pure SaaS & Cloud Platform
• | Digitalize Any Form | $67m | ~20% | >300k | ~300 | |
• Collect Real-Time Data | ~100% | |||||
ARR | Paying | |||||
ARR | SaaS | FTE | ||||
• | Make Data-Driven Decisions | |||||
Growth | Users | |||||
• | Integrate With Anything |
Overview Key Facts
- Product: GoCanvas offers a cloud-based platform for collecting, reporting & integrating field data via flexible and customer-created forms & workflows.
- Business Model: All products are pure SaaS solutions
- Customers: Field workforces in Construction, Fire & Life Safety, Manufacturing, Energy & Utilities and Transportation & Logistics, etc.
- Locations: Est. 2008 in Reston, VA, (USA), Abbotsford, Saskatchewan (CA), Cape Town (South Africa), Sydney (Australia)
5 | Nemetschek Group | June 6, 2024 |
GoCanvas - Product Overview
Leading Provider of Digital Data Collection and Work Process Management Solutions
Jobsite | Safety | Fire |
~50% of ARR | ~30% of ARR | ~20% of ARR |
For the following Verticals
~70% | ~30% | ||
Engineering, Construction, | Other | ||
Buildings and Infrastructure | (e.g. Energy & Utilities, | ||
Manufacturing) | |||
6 | Nemetschek Group | June 6, 2024 |
Extending Nemetschek's Opportunity at the Jobsite
Uniquely flexible solutions that answer to construction's digitalization imperative to drive productivity improvement
Empower the field | Resource effectively |
Easy-to-use mobile app | Automatically optimize |
empowers teams to | crew schedules and travel |
accept, navigate, and | routes between jobs, |
view work details | improving productivity and |
including job-specific | customer satisfaction |
tasks. |
Keep Safe | Increase visibility |
Proactively manage site | View and manage the |
safety and ensure | availability and capacity |
regulatory compliance for | of your entire deskless |
employees and | workforce from one |
contractors | centralized location. |
Construction & Field Service | Others | |||||||
• | Daily Digital Reporting | • | Field Service Report | • | Equipment Calibration | • | Vehicle Inspection | |
• | Site Survey | • | Equipment Check List | • | Field Data Collection | • | GPS Data Collection | |
• | Safety Audits | • | Mobile Inspections | • | Environmental Compliance | • | Fleet Management | |
• | Equipment Inspections | • | Preventive Maintenance | • | Workforce Certification | • | Material Inspection | |
• | Change Order Management | • | Work Orders/Dispatch | • | Maintenance Management | • | Work Order Management | |
• | Punch Lists | • | Customer Sign-off | • | Quality Controls | |||
7 | Nemetschek Group | June 6, 2024 |
Value Creation By Realizing Revenue Synergies
Accelerating into the jobsite to drive digitalization of the Field Worker
Overview Revenue Synergies
• Extend Bluebeam's flexible, high-value solution for drawing and design
1 | review into the field |
• Offer GoCanvas field worker products to Bluebeam construction | |
customers: in USA construction alone over 6m workers in the field, most | |
not using software today | |
2 | • Addressing new customers groups/adjacent industries by connecting |
Nemetschek's Build & Construct offerings with GoCanvas offerings | |
• Add health and safety use cases to 123OnSite customer base | |
3 | • Revenue synergies by strengthening Nemetschek Group position in North |
America, including an opportunity to bring 123OnSite to NA | |
• Nemetschek will provide GoCanvas a unique footprint to expand in |
Europe and Asia
8 | Nemetschek Group | June 6, 2024 |
Transaction Overview
Transaction and | • | Nemetschek to acquire 100% (share deal) of GoCanvas Holdings (cash- and debt-free) |
Valuation | • | The purchase price represents an ARR Multiple of ~11.5x |
Transaction | • Transaction to be financed with cash on hand and fully-committed debt financing | |
Financing | • | Committed to a strong balance sheet and attractive dividend policy |
• | Strong cash flow generation to rapidly de-lever balance sheet |
Organizational
Structure | • GoCanvas will join the Nemetschek Group as part of the Build segment |
Expected Closing
- The acquisition is expected to close in the summer of 2024 and is subject to customary regulatory approval and closing conditions
- Until the transaction closes, each company will continue to operate independently
- After closing, GoCanvas management team will join the Nemetschek Group
9 | Nemetschek Group | June 6, 2024 |
Q&A
10 Nemetschek Group | June 6, 2024
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Disclaimer
Nemetschek SE published this content on 05 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2024 08:03:05 UTC.