Builders FirstSource Acquires Apollo Software Assets
Builders FirstSource, Inc. (“Builders FirstSource” or the “Company”), today announced it acquired Apollo software assets from construction technology startup Katerra in an approximately $4.5 million transaction. The Apollo platform provides design collaboration and workflow, construction budgeting and scheduling, and field task assignment with mobile functionality. The acquisition aligns with Builders FirstSource’s digital strategy to address inefficiencies in the home building process and complements the Company’s recent acquisition of WTS Paradigm, LLC (“Paradigm”).
“We are well-positioned to lead the digital transformation in home construction, which significantly lags behind other industries in the application of technology to drive efficiency,” said Dave Flitman, President and CEO of Builders FirstSource. “Our digital strategy focuses on how we can make our customers’ businesses better by shortening project timelines and reducing waste. The Paradigm acquisition provided the Company with a critical entry point and the ability to be a leader in whole-house design. The Apollo software builds upon that foundation, providing features and functionality that will help us streamline the construction process. We look forward to leading the construction industry into a new age of technological innovation and efficiency.”
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 39 states with approximately 550 locations and service customers in 84 of the top 100 Metropolitan Statistical Areas, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products. For more information about Builders FirstSource, visit the Company’s website at www.bldr.com.
Michael Neese – SVP, Investor Relations – (214) 765-3804
Source: Builders FirstSource, Inc.