US investor makes move on Synchro
Synchro, the Coventry-based creator of construction simulation software, has secured an investment of $500,000 (about £314,765) from a New York based private investor.
John Rapaport, the general counsel and director of operations at Component Assembly Systems, has taken a strategic equity stake in the company and will take up the position of non-executive director on the board.
Synchro delivers software technology to the construction industry by providing real time visualisation, 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, said: “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.”
