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Internet Merger to Serve Builders

Mergers + Acquisitions

Internet Merger to Serve Builders

A recently announced $35.7 million merger between BuildNet, Inc. and four other companies may just make your own business, big or small, run a bit smoother.

July 31, 1999
This article first appeared in the PB August 1999 issue of Pro Builder.

A recently announced $35.7 million merger between BuildNet, Inc. and four other companies may just make your own business, big or small, run a bit smoother. BuildNet and the four merging companies, Maxwell & Company, Inc., The FAST Management Group, Inc., McCosker Corporation and Lloyd’s, all provide e-commerce and management software aimed at serving the home building industry.

The investment, put up by GE Capital, Halifax BuildNet Investors, BankBoston and several others, is aimed at helping the various divisions increase their already formidable position in the billion-dollar e-commerce industry.

"Each of these company’s management systems possesses unique capabilities that will enable us to meet the specific needs of the entire home building industry," says Chuck Cosby, vice chairman of BuildNet.

"Whether you’re building one custom home a year or thousands, these programs present a complete, scalable offering from a single industry leader."

The home page, www.buildnet.net, allows users to access an integrated online network of information, management and software products. BuildSoft, a division of BuildNet, offers project management systems designed specifically for small- to medium-sized builders. The integrated system handles scheduling, estimating, job costing and general accounting.

Maxwell & Company makes the TOM Homebuilder System, aimed at medium-sized builders. This system handles the usual project management tasks as well as purchase orders, warranty control and ledger functions.

The FAST Management system is directed to medium- to large-sized builders. The comprehensive software integrates production, accounting and customer relations throughout the project cycle. McCosker makes the TrueLine Construction and Builder Systems for medium- to large-sized builders. The software offers such additional applications as sales office, equipment and payroll management.

Lloyd’s system is targeted at builders who construct more than 15,000 homes annually. The program handles accounting, job costing, purchasing, payroll and financial reports.



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