TA Associates buys Think Project

As part of the deal, the GP's managing director Morgan Seigler will join the company's board of directors. Financial details of the transaction have not been disclosed. TA Associates is understood to have acquired its stake from former investor Walter Beteiligungen und Immobilien, an Augsburg-based investment firm.

Under the new private equity ownership, the business aims to expand across new geographies in continental Europe, including Spain, Poland and the Benelux region. In a statement, the company claims the global construction collaboration software market in which it operates is estimated at $5.6bn with a current penetration from businesses of less than 10%. According to the statement, the global infrastructure construction market is expected to grow at a 6.5% yearly rate up to $9tn by 2025.

Company
Established in 2000, Think Project has developed a cloud-based cross-enterprise collaboration and information management software for construction and engineering industries. The company employs 200 people across its headquarters in Munich and a research centre in Berlin, as well as several sales offices in Spain, Poland, Austria, France and the Netherlands.

People
TA Associates – J Morgan Seigler, Naveen A Wadhera (managing directors).
Think Project – Thomas Bachmaier (co-founder, CEO).

Advisers
Equity – Willkie Farr & Gallagher (legal).
Company – GCA Altium (corporate finance); Noerr (legal).

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