Manchester construction software firm buys Birmingham rival
Eque2, the construction, contracting and housebuilding software specialist, has acquired Birmingham-headquartered JNC Construction Software.
Founded in 1994, JNC Construction Software is a provider of construction accounting and job costing software solutions.
It provides more than 400 businesses with a suite of products, including Construction Manager, which is geared towards smaller construction companies, and the cloud-based Maintenance Manager solution, which allows companies to manage their planned and reactive maintenance contracts.
The deal marks Eque2's second acquisition in six months, following the purchase of the Miracle Dynamics Payroll and HR Solution.
"The JNC acquisition is an excellent opportunity to merge both the skills and products of a business which shares the same ambition as Eque2," said managing director of operations Peter Davidson.
"We’re all working towards the common goal of helping small to medium-sized construction companies streamline the management of their projects with industry-leading software.
"This is an exciting time for both businesses and we’re looking forward to working with JNC customers and employees as part of our wider group."
LDC backed Manchester-headquartered Eque2 in a £16m deal in November 2017 to help accelerate the firm’s growth strategy and buy-and-build programme.
With the acquisition of JNC, the business now supports more than 1,600 clients and employs more than 135 people across the UK.
John Clarke, investment director at LDC in the North West, added: "This latest acquisition will not only enhance Eque2's current customer proposition, it will enable the team to open new revenue streams and explore opportunities to expand into other vertical sectors.
"The team at JNC has built a business rooted in IP and there are a number of synergies that ensure the combined group will be able to continue to deliver the highest level of service to its clients."