Harris Williams & Co. Ltd Advises BlueCielo ECM Solutions BV on its Sale to Strategic Buyer, Accruent

November 8, 2017

Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of BlueCielo ECM Solutions BV (BlueCielo), a portfolio company of Gilde Equity Management Benelux BV (GEM), to Accruent, a portfolio company of Genstar Capital (Genstar). Harris Williams & Co. served as the exclusive financial advisor to BlueCielo, a provider of asset lifecycle information management (ALIM) software solutions. The transaction was led by Thierry Monjauze, Jonathan Organ and Mathew Tsui of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group.

“The BlueCielo team has built a fantastic business, continuously innovating to become a leader in the ALIM market. This combination not only provides an excellent platform to lead expansion across Europe and Asia, but also brings its solutions into a whole new set of industries,” said Thierry Monjauze, a managing director in Harris Williams & Co.’s TMT Group. “We have thoroughly enjoyed working with both BlueCielo Management and GEM, and we look forward to seeing the continued growth and development as part of the combined group.”

“Technologies such as ALIM and the Internet of Things (IoT) are driving the convergence of traditional operational and data silos within asset-heavy industries, resulting in smarter businesses,” said Jonathan Organ, a director in Harris Williams & Co.’s TMT Group. “BlueCielo’s Meridian software is paving the way across the industry as the single source-of-truth for asset information across the lifecycle, solving a critical need for global enterprises.”

BlueCielo provides solutions to manage engineering information throughout the asset lifecycle. BlueCielo Meridian software connects maintenance and engineering, supports concurrent plant modifications and improves data handover. BlueCielo solutions transform engineering data into actionable plant information, keeping users informed, compliant and in control. Serving the world's largest enterprises in the chemical, metals and mining, oil and gas, pharmaceutical and utility industries, the Meridian product line increases data integrity, auditability and efficiency - enabling users to improve productivity and efficiency, ensure regulatory compliance, reduce risk and manage change. With BlueCielo, owner operators run their plants more effectively, safely, sustainably and profitably. The company is headquartered in the Netherlands and has offices across the U.S., Europe, Brazil and Singapore, as well as an international network of partners that ensures local service and support. BlueCielo is an official partner of Autodesk, IBM, Microsoft, Oracle, SAP and SolidWorks.

GEM is an independent private equity firm with over 30 years of experience. Since 1996, the firm has focused exclusively on the Benelux middle market segment, where it invests in international companies based in the Netherlands and Belgium.

Accruent is a global software company that helps organizations achieve superior performance by transforming how they manage their physical resources. Its innovative, industry-leading cloud-based software and services enable organizations to optimize all stages of real estate, facilities and asset management from capital planning through to IoT-based monitoring and control. With a proven track record across two decades, Accruent has created the only integrated SaaS-based framework and reporting platform for full lifecycle physical resource management. Over 6,000 global customers depend on Accruent solutions to drive out hidden costs, extend asset lifecycles, protect their brands, ensure compliance and deliver on the missions of their organization. Headquartered in Austin, Texas, Accruent operates in 149 countries serving customers in government, healthcare, education, retail, telecommunications and manufacturing.

Genstar is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the software, healthcare, financial services and industrial technology industries.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.