RIB to Acquire 60% of a Leading, High-Growth Architecture, Engineering and Construction Technology and BIM Services Company Headquartered in California, USA
RIB U.S. Revenue Expected to Double in the First Half of 2020 (H1 2019 15.8 Million USD) and Become the Leading Market for RIB in the Midterm
After investing 42 Million USD into Atlanta-based Building Systems Design (BSD) for a 60% share in June 2019, RIB is proud to announce a second investment of 26.4 Million USD for a 60% share in U.S. CAD. Based in Southern California, U.S. CAD is a leading AEC technology reseller and integrator, and BIM services provider with over 50% revenue growth compared to 2018. As an Autodesk Platinum partner, U.S. CAD offers tailored solutions and services to over 50.000 active subscribers across United States. With 10 additional offices in the U.S., the company will contribute over 30 Million Euro yearly revenue with 20-30% EBIT/DA margin to the RIB Group in 2020, not including revenue out of third-party software.
Daniel Counts, CEO, founded U.S. CAD in 1999 and has built the company into one of the largest AEC technology and consulting firms in the United States. Daniel will continue to lead and grow U.S. CAD together with Jeff Rachel, President. Daniel will focus his attention on the healthy scaling of the business and driving the overall growth in the USA by way of future acquisitions and additional markets. Jeff will focus his attention on driving the growth of various business lines at U.S. CAD, including the planned offering, an “Out of the Box” MTWO and iTWO 4.0 cloud enterprise solution for contractors, real estate developers, and owners with a shortened sales cycle and reduced implementation time. The product will be offered in January 2020 and include up to 100 SaaS modules, content and data, reports, best-practice workflows, and complete IT cloud infrastructure. In addition, U.S. CAD is offering full range of BIM services, digital transformation consulting, application development, training and maintenance. It is planned that U.S. CAD will also offer AI, IOT, and PPS out of the RIB product portfolio to American clients.
Daniel Counts: “I have always envisioned U.S. CAD joining up with a strategic investor like RIB and I am excited about our future and “Running Together” with RIB for several years to come. The top priorities for U.S. CAD and RIB will be to continue scaling the business in the USA, by way of both strong organic and acquisitional growth, in other words, we will continue to execute the U.S. CAD strategic plan for growth. In addition, our combined focus will remain on our talented team at U.S. CAD and creating an environment for them where they are encouraged and excited to help drive this growth for U.S. CAD and RIB, while transforming the industry. With Autodesk BIM 360 and MTWO from RIB, U.S. CAD will be scaling these technologies and increasing adoption throughout the USA. These software platforms are complementary to each other and are transforming the building industry in the USA.”
Tom Wolf: “Partnering with Daniel Counts and Jeff Rachel, a pair of world class players in our global entrepreneurial leader team, is a milestone for RIB to win the American market for our MTWO platform and to win 2 million users in the midterm. The U.S. CAD team knows how to introduce construction technology in the U.S. market and how to rapidly scale construction products.“
About RIB Group
RIB Software SE is an innovator in building and construction industry. The company creates, develops, and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. iTWO 4.0, RIB’s flagship cloud-based platform, provides the world’s first enterprise cloud technology based on 5D BIM with AI integration for construction companies, industrial companies, developers and project owners, etc. With over 50 years of experiences in construction industry, RIB Software SE focuses on IT and engineering and becomes the pioneer in construction innovation, exploring and brining in new thinking, new working methods and new technologies to enhance construction productivity. RIB is headquartered in Stuttgart, Germany and Hong Kong, China, and listed on the prime standard Frankfurt Stock Exchange since 2011. With over 1,400 talents in more than 20 countries worldwide, RIB is targeting to transform the construction industry into the most advanced and digitalized industry in the 21st century.