PRESS RELEASE Synchro Ltd USA Based Private Investor
Synchro Ltd, the West Midlands based authors of award winning software for construction simulation has attracted an investment of $500k (US Dollars) from a New York based private investor. John Rapaport, the General Counsel and Director of Operations at Component Assembly Systems Inc, users of the Synchro software, has taken a strategic equity stake in the company and will assume the position of non-executive director to the board.
Synchro delivers innovative software technology designed to serve the construction industry by providing real time visualization, project scheduling, advanced risk management, synchronisation with design changes, supply chain management and cost allocation for comprehensive construction simulation.
The deal was arranged by Blue Sky Corporate Finance and legal advice was provided by Harvey Ingram’s Birmingham office. Paul Heaven of Blue Sky commented “international private equity investment of this nature is relatively rare in the SME sector and some of the legal nuances presented a few challenges but John Rapaport knew the software, he could see the potential and he was determined to get this deal over the line. It is testimony to the growing international customer base of this company that interest in the company is now growing around the world”.
Synchro has been nominated for no less that 3 awards at this year’s UK Construction Computing Awards due to take place in November 2010.
For further information about Synchro Ltd, please visit www.synchroltd.com