Case Study | Sale of ProEst

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Objective, Investment Banking & Valuation (“Objective”), an award-winning middle market investment banking and valuation firm, is pleased to announce that it served as the exclusive financial advisor to ProEst in its sale to Autodesk, Inc.

ProEst is a cloud-based estimating solution that enables construction teams to create estimates, perform digital takeoffs, generate detailed reports and proposals and manage bid-day processes. The acquisition will expand and strengthen Autodesk Construction Cloud’s preconstruction offerings and enable construction teams to manage all their critical workflows on one platform.

ProEst was created to reimagine the construction estimating process and offer the most advanced functionality possible. Their cloud-based platform enables construction teams to use automated tools in order to have greater project estimation accuracy, manage project bids more efficiently, collaborate across entire teams, and so much more. Their portfolio of features includes standardization of construction proposals, CRMs, reporting, conceptual estimating, cost databases, bid management and analysis, document management, and accounting software. ProEst’s customers include industry leading construction companies including Geisinger, O’Brien Construction, Vantis and Oswald, and many more.

Case Study Details

    Business Overview & Owner Objectives

    • ProEst is a provider of an advanced construction estimating SaaS platform that enables construction teams to create project estimates, perform digital takeoffs, generate detailed reports and proposals, and manage bid-day processes.

    • ProEst had received repeated unsolicited acquisition interest from a large industry leading SaaS solution provider with whom they had a technology integration, Autodesk (NASDAQ: ADSK).

    • Ownership wanted to explore the opportunity with Autodesk while engaging with other high-fit potential acquirers in a competitive process to maximize the outcome of a potential sale.


    • Objective developed compelling acquirer-specific business cases and post-acquisition economics financial models outlining the acquisition benefits for Autodesk and other strategic acquirers.

    • Objective engaged Autodesk and a targeted group of strategic acquirers, receiving strong interest from multiple acquirers.


    • Autodesk and other strategic acquirers had a surface-level understanding of how they would integrate and benefit from an acquisition of ProEst.

    • While ProEst’s solution was becoming adopted as a best practice within the construction industry, the application of a standard SaaS valuation multiple did not recognize ProEst’s full value and would not have resulted in a purchase price that achieved Ownership’s Objectives.

    • By collaborating with Autodesk and other strategic acquirers to develop a more detailed characterizations and quantifications of the competitive advantages and incremental profits achievable by acquiring ProEst, we provided Autodesk and the other acquirers with logical rationale for why they should pay a premium purchase price.


    • Objective negotiated with Autodesk and multiple additional strategic acquirers achieving a premium valuation and favorable acquisition terms with the highest fit acquirer, Autodesk.

    • The Owner achieved significant liquidity and assumed an exciting leadership role with Autodesk’s industry’s leading construction division.

    Read the full press release



    If you would like to discuss your own transaction goals contact the Managing Directors from our Technology Practice, or reach out at (800) 849-7010 or [email protected] to be directed to the appropriate team member.


    The above testimonials may not be representative of the experience of other customers and past performance is not a guarantee of future performance or success.

    This news release is for informational purposes only and does not constitute an offer, invitation or recommendation to buy, sell, subscribe for or issue any securities. While the information provided herein is believed to be accurate and reliable, Objective Capital Partners and BA Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Securities and investment banking services are offered through BA Securities, LLC Member FINRA, SIPC. Principals of Objective Capital are Registered Representatives of BA Securities. Objective Capital Partners and BA Securities are separate and unaffiliated entities.

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