Viewpoint Construction Software has purchased Dexter & Chaney LLC, a software developer for the construction industry, from middle-market private equity firm Pamlico Capital.
Founded in 1981, Dexter & Chaney makes technology for contractors and construction manufacturers to manage their finances and company operations. The target’s Spectrum Construction Software is used by more than 1,100 contractors. Pamlico acquired the Seattle, Washington-based company in December 2014. Financial terms of the transaction by Viewpoint were not disclosed.
Viewpoint is Portland, Oregon-based provider of construction-specific software products. The buyer’s products allow clients to manage all of its operations from the preconstruction to the construction and facilities maintenance stage. Vista, ProContractor, Viewpoint for FieldView, Viewpoint for Projects, Viewpoint for Estimating are among the buyer’s software products.
Founded in 1988, Pamlico Capital is a private equity firm that backs U.S. middle-market businesses. The Charlotte, North Carolina-based firm seeks control-oriented growth equity and buyout investments of up to $100 million. Pamlico Capital targets the business and technology services, communications and healthcare industries.
The software and technology sector are prime areas of interest for middle-market buyers. Luminate Capital, led by Hollie Moore Haynes, has backed airplane software developer Comply365; New Mountain Capital LLC buying a majority stake in Sparta Systems; HGGC’s acquiring of data virtualization software maker Denodo; Cisco Systems Inc. (Nasdaq: CSC) is buying network management provider Viptela; Golden Gate has agreed to purchase interior design software developer 2020 Technologies; and MaxLinear Inc. (NYSE: MXL) is purchasing lighting chip maker Exar Corp. (NYSE: EXAR).