Thoma Bravo is combining its portfolio company HCSS with Nemetschek, bringing "heavy civil expertise" to the deal. AJ Rohde, senior partner at Thoma Bravo, stated this combination aims to establish them as "the vertical AI and SaaS leader across the entire architecture, engineering and construction ecosystem" with a like-minded partner focused on innovation.

The merger represents Thoma Bravo's strategic entry into the architecture, engineering and construction software market. By combining Nemetschek's broad AEC platform with HCSS's specialized civil engineering expertise, the PE firm aims to create a comprehensive solution for the entire construction industry, from design to project management.

The deal highlights growing investor interest in AI-powered construction technology as the industry seeks digital transformation. Thoma Bravo sees significant opportunities for cross-selling solutions across the AEC value chain, potentially creating a dominant player in the estimated $30 billion construction software market with substantial growth potential.