Accounting firm Forvis has struck a deal to acquire Charlotte-based ConTech 360 in a move targeted at bolstering its focus in the construction technology sector.
The transaction, announced May 20, is expected to close this fall. It marks Forvis' first acquisition in the construction industry. Financial terms of the deal were not disclosed.
ConTech360, founded in 2019, provides construction technology services. Its offerings are tailored around providing information technology solutions, reducing overhead and increasing efficiency.
ConTech360 has more than 125 active clients and 60-plus consulting engagements, a Forvis spokesperson said.
The company's two managing partners, Jim Wagner and Steve Maddox, will join Forvis as managing directors. Wagner and Maddox are ConTech360's only full-time employees.
Jason Myers, Forvis' national industry leader for construction and real estate, said in a statement to CBJ that the deal will enable the company to make new talent investments in the construction tech space.
"Combined with our new agreement with Trimble Viewpoint, this addition creates an offering that is forward-looking and truly a value add in the market today," he said.
Also on May 20, Forvis said it joined the Trimble Authorized Business Development Partner program. Trimble provides software services to companies in construction, agriculture, geospatial, natural resources and utilities, governments and transportation, among other sectors.
"We always want to be at the forefront of advising our clients on best-in-class solutions, and with this agreement we can now really get our hands dirty and dig in," Myers said.
Forvis is the Charlotte region's sixth-largest accounting firm with about 378 professional staff members based here, according to recent CBJ research.. The company was created from the June 2022 merger of locally based DHG and BKD of Missouri.
