M&A Deal Summary

Procore Acquires LaborChart

On October 22, 2021, Procore acquired software company LaborChart from Five Elms Capital

Acquisition Highlights
  • This is Procore’s 5th transaction in the Software sector.
  • This is Procore’s 6th transaction in the United States.
  • This is Procore’s 1st transaction in Kansas.

M&A Deal Summary
Date 2021-10-22
Target LaborChart
Sector Software
Buyer(s) Procore
Sellers(s) Five Elms Capital
Deal Type Add-on Acquisition

Target

LaborChart

Overland Park, Kansas, United States
LaborChart is a provider of workforce management software for specialty contractors and self-performing general contractors. LaborChart deepens the office and field connection by empowering contractors to better schedule, manage, forecast, and communicate with their workforces, ultimately improving profit margins. LaborChart was founded in 2014 and is based in Overland Park, Kansas.

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Buyer(S) 1

Buyer

Procore

Carpinteria, California, United States
Category Company
Founded 2003
Sector Software
Employees3,694
Revenue 950M USD (2023)
DESCRIPTION

Procore is a provider of cloud-based applications for construction. Procore connects people, applications, and devices through a unified platform to help construction professionals manage risk and build quality projects safely, on time, and within budget. Procore has a diversified business model with products for project management, construction financials, quality & safety, and field productivity. Procore was formed in 2003 and is based in Carpinteria, California.

DEAL STATS #
Overall 6 of 6
Sector (Software) 5 of 5
Type (Add-on Acquisition) 6 of 6
State (Kansas) 1 of 1
Country (United States) 6 of 6
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-22 Levelset

New Orleans, Louisiana, United States

Levelset is a construction software company that helps the construction industry simplify compliance and payment processes, decrease financial risks, and improve cash flow. Levelset is based in New Orleans, Louisiana.

Buy -

Seller(S) 1

SELLER

Five Elms Capital

Kansas City, Missouri, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2006
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Five Elms Capital is a private investment firm focused on investing $5 to $75 million in bootstrapped business services companies with $2 to $20 million in rev enue. The Firm will consider providing growth capital or to support shareholder liquidity needs. Five Elms Capital was formed in 2006 and is based in Kansas City, Missouri.

DEAL STATS #
Overall 14 of 17
Sector (Software) 4 of 5
Type (Add-on Acquisition) 11 of 13
State (Kansas) 4 of 4
Country (United States) 13 of 14
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-13 Hubb

Vancouver, Washington, United States

Hubb is a cloud-based software platform uses simple, automated workflows to streamline collecting, managing, and marketing event content, as well as facilitating sales pipeline growth with meetings management and data analytics. Hubb was founded in 2015 and is based in Vancouver, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Proxyclick

Brussels, Belgium

Proxyclick is a cloud-based visitor management platform engineered to connect people in the workplace without compromising the health, security, or compliance objectives of the enterprise. Proxyclick was founded in 2010 and is based in Brussels, Belgium.

Sell -
Mergr

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