North Carolina-based Pamlico Capital has made a strategic growth investment in Dallas-based Beck Technology, a leading preconstruction platform for contractors.
Norbert Orth, a senior software executive with extensive construction technology experience, will join Beck Technology as CEO, Pamlico said.
Beck Technology President Stewart Carroll, CTO Mike Boren, and the rest of the management team will maintain ownership in Beck Technology and continue to lead day-to-day operations, Pamlico said.
Peter Beck, founder and chairman of Beck Technology, will also maintain ownership in the company.
‘Construction impacts everyone on the planet’
“Construction impacts everyone on the planet, and the preconstruction process enables contractors to make better and more informed decisions leading to better and more predictable project outcomes,” Peter Beck said in a statement. “Pamlico’s deep expertise partnering with founder-owned software businesses like ours made them the ideal partner in this next phase of growth.”
Beck Technology said it serves more than 200 customers, including some of the largest and most sophisticated contractors in the world.
Its platform was built by contractors who understand the challenges faced by customers, with a solution that offers a modern and streamlined experience driving preconstruction accuracy, efficiency, and consistency, Beck said.
“I could not be more excited to work alongside Pamlico and Norbert,” Carroll said in a statement. “They believe in our vision, and their relevant software experience and resources will accelerate the pace at which we can deliver for our customers.”
Orth was CEO of Dexter & Chaney, a former Pamlico portfolio company and a leading ERP platform for commercial contractors.
‘A unique corporate culture’
“I strongly believe that Beck Technology is a special company, with a unique corporate culture,” Orth said in a statement. “The team has a notable passion for their products and this market, and as a result, the company has a strong base of happy customers. I am genuinely excited to join the business.”
Pamlico Partner Eric Wilkins and VP Larsen Jones said that Beck Technology has established a unique leadership position in preconstruction technology.
“We look forward to working with the management team to continue to expand the product platform and build a best-in-class, integrated preconstruction solution,” they said.
Shea & Co. served as exclusive financial adviser to Beck Technology.
Pamlico Capital is a private equity firm founded in 1988. It invests in growing middle market companies in North America.
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