Agile Frameworks Receives Majority Investment By Long Arc Capital
MINNEAPOLIS, May 4, 2021 /PRNewswire/ -- Braun Intertec Corporation ("Braun Intertec"), a leading engineering, environmental consulting and testing services firm, today announced a majority investment by New York-based growth private equity firm Long Arc Capital, LP ("Long Arc Capital") in Agile Frameworks, LLC ("Agile Frameworks"), a leading provider of collaborative, cloud-based software solutions for project workflow, data management and analytics for the architecture, engineering and construction ("AEC") services industry.
Founded in 2011 by Braun Intertec to support the needs of its own clients, Agile Frameworks has since grown to serve over 75 of North America's top engineering firms. Agile Frameworks offers a subscription-based, multi-tenant Software-as-a-Service ("SaaS") platform that automates complex workflows for greater productivity, data integrity, insights and profitability. MetaField® provides a single application to manage project specifications, schedule, dispatch, test, collect and assemble results to accurately deliver information to clients in real time.
The Long Arc Capital investment comes at a time of continued high growth for Agile Frameworks and substantial future opportunities for product and market expansion, as technology enablement of the AEC industry accelerates.
Jon Carlson, CEO of Braun Intertec, said: "As a leading engineering, environmental consulting and testing services firm, Braun Intertec founded Agile Frameworks to build and deliver a software solution that was very much needed by our industry. We are very pleased by how quickly and resoundingly Agile Frameworks has become a leader of this market. That success has made it clear that an even more exciting future lies ahead as Agile Frameworks expands its SaaS offerings, and that these opportunities require a strong and highly strategic partner to achieve Agile Frameworks' even greater potential. We have collaborated with Long Arc Capital for nearly a year and are confident they are the ideal partner for Braun Intertec, as we remain both a major shareholder and customer."
Bob Tuttle, CEO of Agile Frameworks, said: "With this investment, we are primed to serve a broader range of construction and engineering disciplines by enhancing our products' capabilities to support efficient, end-to-end business processes across the industry." Mr. Tuttle, CEO of Agile Frameworks since 2017, previously served as EVP of Field Operations of Verisae Inc. before its sale to Marlin Equity Partners and subsequently to Genstar / Accruent. He also served as CEO of Vcommerce until its sale to Channel Intelligence and subsequently Google, and as SVP Field Operations of Retek, prior to its sale to Oracle Corp. as the foundation of what is now Oracle's Retail ERP plaform.
W. Tobin Whamond, Partner of Long Arc Capital, said: "The global AEC industry is experiencing unprecedented technology enablement and acceleration, transforming workflows from job-based to integrated project delivery, securing data integrity in mission-critical settings such as geotechnical engineering, and construction materials and non-destructive testing, as well as dramatically improving productivity and revenue capture. We believe that Agile Frameworks is the most advanced provider of SaaS solutions to the engineering services industry today and is poised to create the next generation solutions for thousands of enterprise clients. We are thrilled to partner with Bob and Braun Intertec to drive the next chapter in Agile Frameworks' exciting growth."
Advising Braun Intertec on the transaction was Environmental Financial Consulting Group, a leading advisor to AEC firms. Faegre Drinker Biddle & Reath LLP served as legal counsel to Braun Intertec and Greenberg Traurig, LLP served as counsel to Long Arc Capital.
About Agile Frameworks, LLC
Headquartered in Minneapolis, MN, Agile Frameworks provides the only industry solution that fully integrates corporate, field, and lab information management activities in one platform across multiple architecture, engineering, and construction disciplines. Agile Frameworks offers engineering consulting firms, capital project owners, and construction firms the industry's most impactful tools and automated processes to maximize efficiency, growth and profitability. Learn more about how Agile Frameworks enables Profitable Engineering® for more than 28,000 monthly subscribers via its cloud based-mobile solution at htttps://www.agileframeworks.com.
About Long Arc Capital, LP
Long Arc Capital is a private equity firm based in New York City dedicated to building and scaling breakthrough technology and technology-enabled businesses. Founded in 2016, Long Arc has six Partners collectively with over 150 years of investing and operating experience. The firm has a philosophy of "active ownership," partnering with entrepreneurs and management teams by bringing to bear a comprehensive suite of resources that advance the human capital, strategic, product development, technology, and financial strengths of its portfolio companies, successfully driving their profitable growth. For more information about Long Arc Capital, please visit https://www.longarc.com.
About Braun Intertec Corporation
Based in Minneapolis, MN, employee-owned Braun Intertec Corporation is a premier engineering, environmental consulting and testing firm with more than 1,000 employees located in Iowa, Kansas, Louisiana, Minnesota, North Dakota, Texas and Wisconsin. For more information, please visit https://www.braunintertec.com
James Doyle, JConnelly
Laura Holte, Agile Frameworks
Kara Pritchett, Braun Intertec Corporation
SOURCE Long Arc Capital; Agile Frameworks; Braun Intertec
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