Pamlico Announces Strategic Growth Investment in Beck Technology

CHARLOTTE, N.C., Nov. 8, 2023 /PRNewswire/ -- Pamlico Capital ("Pamlico") today announced a strategic growth investment in Beck Technology, the leading preconstruction platform for contractors. Norbert Orth, a senior software executive with deep construction technology experience, will join Beck Technology as CEO. 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. Peter Beck, chairman and founder of Beck Technology, will also maintain ownership in the Company.

Headquartered in Dallas, Texas, Beck Technology serves over 200 customers, including some of the largest and most sophisticated contractors in the world. The Company's platform was built by contractors who understand the challenges faced by customers and the solution offers a modern and streamlined experience that drives preconstruction accuracy, efficiency, and consistency.

"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. Pamlico's deep expertise partnering with founder-owned software businesses like ours made them the ideal partner in this next phase of growth," said Peter Beck. Stewart Carroll added, "I could not be more excited to work alongside Pamlico and Norbert. They believe in our vision, and their relevant software experience and resources will accelerate the pace at which we can deliver for our customers."  

Norbert Orth brings extensive software experience to the Company. Notably, Norbert was CEO of Dexter & Chaney, a former Pamlico portfolio company and a leading ERP platform for commercial contractors. "I strongly believe that Beck Technology is a special company, with a unique corporate culture," Orth said. "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 Vice President Larsen Jones added, "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."

Shea & Company served as exclusive financial advisor to Beck Technology.

About Beck Technology
Beck Technology empowers the construction industry to make smarter project decisions through the preconstruction data lifecycle. Clients, ranging from local, regional, and global construction firms, count on Beck Technology's DESTINI platform to conceptualize and estimate projects with unmatched speed, precision, and customization. DESTINI Estimator estimating software is the only purpose-built platform created exclusively for preconstruction and cost estimating professionals. DESTINI Bid Day is the first of its kind bid-leveling software to incorporate historical bid info and risk assessment in an estimate. Visit www.beck-technology.com, call 888-835-7778 or follow @BeckTechnology.

About Pamlico
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services, and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.

Contact:
Gillian Rhew
[email protected]

SOURCE Pamlico Capital