Bain Capital invests $230 million in Oregon firm that acquired King of Prussia's Maxwell Systems




Tom Paine



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The Portland, Oregon-based construction software firm which acquired King of Prussia-based
Maxwell Systems from LLR Partners
in February has agreed to sell a $230 million stake in itself to Bain Capital.

Bain's investment in Viewpoint Construction Software largely replaces the stakes held by Updata Partners and TA Associates while providing additional growth capital. Viewpoint declined to say whether Bain's investment would give it a majority ownership position, according to the Portland Oregonian.

Maxwell, which served smaller contractors and was probably set back by the recession,
was viewed as a tuck-in acquisition by the larger Viewpoint, which has some 700 employees.
Maxwell also seemed to be behind in adopting a cloud computing platform. At the time of
the Maxwell acquisition Viewpoint said there would be some job reductions in King of Prussia; terms of that deal weren't disclosed.

The Bain investment means an IPO, though still a possibility for Viewpoint down the road, probably won't happen for a while. But these kinds of larger, later stage investments have become common recently as some companies draw back from the nervous IPO market and seek what is essentially a round of bridge financing.



Links 4/22/2014: Comcast earnings don't miss a beat, said to be near Charter deal; Aereo arguments



Comcast Adds Cable-TV Customers Again, Bucking Industry (Bloomberg)

Charter Said to Near Deal With Comcast For 1.5 Million Customers (Bloomberg)


Comcast/Netflix: Unwinding the Latest Traffic Jam, but at What Cost? (Knowledge@Wharton)


Argument preview: Free TV, at a bargain price? (SCOTUS Blog)

Supreme Court Hears Arguments in Aereo Case (New York Times)

In Aereo hearing, Supreme Court expresses concern for cloud computing – but doubt over tiny antennas (Gigaom)


Dell Boomi sees strong growth, aims to improve integration errors
(ZDNet)


How Fieldglass survived difficult times on the way to an exit (Chicago Tribune)
Fieldglass agreed to be acquired by SAP last month.

Dancing Giants: At SAP, it is about trying to make the battleship turn faster (PandoDaily)

Center City showing signs of weakness (Philadelphia Inquirer)