Newcastle-based NBS, the leading specification platform for the construction industry, recently celebrated a year since a major investment of £31.8m was injected into the business by LDC, the private equity arm of Lloyds Banking Group. The firm is now on track to acquire its 1,000th customer onto its flagship software as a service (SaaS) product, NBS Chorus.
Launched in January this year, NBS Chorus is a cloud-based platform for construction specification, used by architects, engineers and designers to rapidly create detailed specifications for construction projects.
Since then Newcastle-based NBS has set about moving its 4,000-strong customer base of UK construction practices onto Chorus and has seen strong take up across the board, as the industry finally begins to recognise the importance of digitisation through a cloud-enabled, integrated construction workflow.
It has also ramped up its global operations, with the establishment of bases in Australia and Canada, allowing it to expand the global capabilities of Chorus.
Richard Waterhouse, NBS Chief Executive (pictured), said: “The last 12 months have been hugely exciting as we have set about delivering the strategy and plans agreed with LDC on board as a partner.
“We’re delighted with the uptake we’ve seen for NBS Chorus, which proves that the construction industry is ready for the adoption of cloud technology. With the further investment in our people, new international operations, and strong partnerships in place, we’re in a fantastic position for further growth across all our markets.”
A number of key appointments have been made both in the UK and internationally, together with an increased focus on values, culture and people across the organisation as it moves to become a complete SaaS operation.
Growth has been supported through the announcement of a number of partnerships with key industry players in the construction technology space – these include Autodesk, Graphisoft and Viewpoint (Trimble), as well as SolidCAD in Canada. NBS also continues to enjoy its successful long-term partnership and joint venture with IHS Markit, the global information provider.
LDC invested £31.8m into NBS in 2018 for a significant minority shareholding, while previous owner RIBA, retained 42.5% ownership.