Headquartered in Manchester, Eque2 supplies business management software to more than 2,300 customers in the construction, housebuilding and contracting industries. Its software enables builders, contractors, architects, engineers and estimators to integrate the commercial and financial aspects of their business, driving efficiencies and ultimately improving profitability.
In November 2017 LDC backed the management buyout of Eque2 in a £16million deal.
The investment, which sees LDC take a significant minority stake in the business, will also support the immediate acquisition of Miracle Dynamics Payroll and HR Solution. Miracle Dynamics is a leading supplier of HRM technology to the Microsoft Dynamics business applications market and will expand Eque2’s current offering.
In May 2018 Eque2 acquired Birmingham-headquartered JNC Construction Software as part of its buy-and-build growth strategy. Founded in 1994, JNC Construction Software is a well-established provider of construction accounting and job costing software solutions. It provides more than 400 businesses with a suite of products, including Construction Manager, which is geared towards smaller construction companies, and the cloud-based Maintenance Manager solution, which allows companies to manage their planned and reactive maintenance contracts.
In November 2018 Eque2 announced it was celebrating a year of strong growth. Since the investment in November 2017 the business has recorded double digit revenue growth. For the financial year ending April 2018 the business reported revenues of £12.9million, up 13% year-on-year, and is now on track to hit revenues of more than £15million for the current financial year, with its order book up 40% over the same period.
One year later, Eque2 acquired CLiPIT Solutions in the next phase of its buy-and-build growth strategy. Established in 2002, CLiPIT specialises in fully-integrated construction accounting and job costing software solutions. It provides construction accounting software which manages a construction company’s job costing, CIS, applications, accounts, retentions and payroll.
The acquisition of CLiPIT brings together two strong companies and further strengthens Eque2’s status as the leading provider of construction accounting and job costing software solutions, taking its customer count up to 2,300.
With the financial firepower and support of LDC we're confident that we can establish ourselves as the construction industry's leading provider of specialist business management software and the acquisition of Miracle Dynamics is an exciting first step on this journey.Richard Beaton, Executive Chairman, Eque2