.png)
Hilti's acquisition of Fieldwire marks a significant milestone in the construction industry. By integrating Fieldwire's jobsite management platform with Hilti's extensive market reach, the deal aims to enhance productivity on construction sites globally. This strategic move underscores Hilti's commitment to digital solutions, positioning it as a leading digitalization partner for construction professionals.
Founded in 2013, Fieldwire offers comprehensive jobsite management software tailored for construction teams. Its core services include field management, project management, plan viewing, and reporting. Unique selling points include real-time collaboration, mobile accessibility, and ease of use with no training required. Fieldwire's transparent pricing and enterprise-grade capabilities make it suitable for projects of any scale. Additionally, it reduces risk by capturing as-built project information, creating an indisputable record of work performed.
Hilti USA is a prominent player in the construction industry, specializing in power tools, fasteners, and software solutions. The company offers a wide range of products, including dust and water management systems, measuring tools, and fire protection systems. Known for its innovative approach, Hilti provides services such as tool repair, online ordering, and professional training through the Hilti Academy. With 80 years of experience, Hilti is a market leader committed to enhancing productivity, safety, and sustainability on job sites.
Hilti announced its acquisition of Fieldwire on November 16, 2021. This strategic move aligns with the broader industry trend of increasing digitalization in construction, aimed at enhancing productivity and efficiency on job sites. The timing of the acquisition is significant as it follows a period of close collaboration between the two companies, with Hilti having invested in Fieldwire's Series B financing round in 2017. The deal is expected to close in Q4 2021, subject to regulatory approvals.
Market Expansion: Hilti's acquisition of Fieldwire is a strategic move to broaden its footprint in the construction software space. By leveraging Hilti's global reach, Fieldwire can extend its market beyond its current user base, which includes over 4,000 paying companies and some of the largest contractors in North America. This partnership will also facilitate Fieldwire's entry into new geographical markets, enhancing its presence in Europe and Asia Pacific.
Technology Integration: The acquisition allows Hilti to integrate Fieldwire's jobsite management platform with its existing digital solutions. This integration aims to enhance field productivity by combining Fieldwire’s best-in-class software with Hilti’s renowned hardware solutions. The collaboration between the two companies will focus on creating a market-leading construction project management software, thereby accelerating Hilti’s capability to deliver productivity and safety through advanced technology.
Competitive Advantage: The strategic acquisition strengthens Hilti's competitive position by enhancing its software offerings and positioning it as a leading digitalization partner for construction professionals. The synergy between Fieldwire’s user-friendly platform and Hilti’s extensive market reach is expected to drive significant productivity improvements on construction sites. This combined offering will provide a comprehensive solution that spans both hardware and software, making it more attractive to customers and establishing the joint entity as a leader in construction jobsite management platforms.
The acquisition of Fieldwire by Hilti has led to significant operational and management changes. Fieldwire continues to operate with substantial autonomy under the leadership of its founders, Yves Frinault and Javed Singha. The team has expanded significantly, doubling in size to reach 300 members. This growth is supported by Hilti's resources, allowing Fieldwire to leverage Hilti’s global reach and experienced sales team to enhance customer acquisitions and brand awareness. The collaboration aims to accelerate product development and expand Fieldwire’s market presence, particularly in the U.S. and EU markets.
In terms of product offerings and services, the acquisition has enabled Fieldwire to integrate its jobsite management platform with Hilti’s tools and technology, creating a comprehensive solution for construction professionals. Hilti’s ongoing investment in Fieldwire’s platform aims to enhance field productivity and drive digital transformation in the construction industry. Employee reactions have been positive, with the team expressing excitement about the accelerated product roadmap and new market opportunities. Customers have also responded favorably, appreciating the improved productivity and enhanced digital solutions resulting from the acquisition.
For founders considering business transitions, tools like Sunset can assist in managing such processes compliantly, ensuring a smooth and successful transition.
