SAN FRANCISCO, October 30, 2020 /PRNewswire/ – True Wind Capital, a technology focused private equity firm, will invest alongside AIA in AIA Contract Documents, the construction industry’s leading provider of customizable legal contracts. As part of AIA, ACD has been the gold-standard of legal documents and a thought leader within the construction industry for more than 130 years with a legacy dating back to 1888.
Founded in 1857, AIA works to create valuable, healthy, secure and sustainable buildings and communities. It is one of the largest professional associations in the U.S. AIA will continue to play a significant role in the future and direction of ACD.
“We are incredibly excited about this opportunity,” said Executive Vice President/CEO Robert Ivy, FAIA. “The construction technology industry is rapidly evolving, and we are excited to partner with True Wind to continue to invest in the ACD product to drive value across the industry. The AIA looks forward to this long-term relationship and to what the next 100 years will bring to ACD.”
As part of the new strategic partnership, Chris Anderson has been appointed Chief Executive Officer of ACD. Chris Anderson was previously the CEO of Building Systems Design, a provider of specification software and content. “I am honored to work alongside AIA to take ACD to the next level,” said Anderson. “AIA has a remarkable brand and reputation within the industry, and I look forward to building upon the successful legacy of the program and delivering further value to our ACD customers.”
Aaron Matto, Partner at True Wind Capital, added, “We are thrilled to support AIA and Chris in this next phase of ACD’s growth and development. Our deep expertise in enterprise software and construction technology will help drive continued investment and innovation into the product.”
Pagemill Partners, a division of Duff & Phelps, served as the exclusive financial advisor to AIA. Gibson Dunn served as legal advisor to True Wind Capital. Blank Rome served as legal advisor to AIA. Audax Private Debt provided a unitranche debt financing and acted as agent and sole lead arranger.
Founded in 1857, AIA consistently works to create valuable, healthy, secure, and sustainable buildings, neighborhoods, and communities. Through more than 200 international, state and local chapters, AIA advocates for public policies that promote economic vitality and public wellbeing.
AIA provides members with tools and resources to assist them in their careers and business as well as engaging civic and government leaders and the public to find solutions to pressing issues facing our communities, institutions, nation, and world. Members adhere to a code of ethics and conduct to ensure the highest professional standards.
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies with a broad mandate including software, data analytics, tech-enabled services, internet, financial technology, and hardware. True Wind Capital is a value-added partner, providing support and expertise that is rooted in its team’s 85+ years of collective investing experience. True Wind Capital investments include, The Switch, LeadVenture, Sysnet, Transflo, OpenLending and Zix.
True Wind Capital
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No compensation was provided to the portfolio company executives for their feedback although they may have an incentive to make a positive statement due to the executive’s ongoing relationship with the firm.