Procore acquiring construction management startup Levelset for $500M
Deal with payment platform marks Procore’s biggest acquisition.
Procore
Announcing Industry-shaping Deals
Tusk jumped in at the last minute to help manage Procore’s major M&A announcements and subsequent internal change communications.
Press Hits
OP’s LaborChart checks off ‘big milestone’ with sale to Procore
Overland Park-based LaborChart has sold for an undisclosed amount to Procore Technologies Inc., a major industry player that was valued near $5 billion last year.
The Stakes
After a very successful IPO in 2021, Procore (NYSE: PCOR), the leading construction management software, was ready to accelerate its growth through a number of major acquisitions, ranging from $10-$500M.
The Process
Tusk worked with an internal Procore team to tackle two scopes of work: supporting internal Procore communications during the deal process for the acquisitions of both LaborChart and Levelset and subsequently helping lead internal communications during the post-close integration process for Levelset – the largest acquisition in the company’s history and the second largest in the industry at large ($500 million deal and 150-person team).
Both scopes of work included drafting key internal messaging, advising on information delivery and cadence, developing communications plans, building out the draft communications and seeing each of those communications out until execution. Tusk also built out master M&A plans and playbooks for Procore to utilize going forward to ensure repeatable, successful processes as Procore continues its rapid growth.
The Conclusion
The result? Smooth and effective internal acquisition announcements and a successful integration bringing Levelset into the Procore fold.