Felix to acquire Nexvia for AUD $12m, raising AUD $16m
Felix Group Holdings has announced it will acquire Nexvia in a transaction worth AUD $12 million.
The agreement sees Felix Group purchase Nexvia, a subscription-based software platform used by construction sector SMEs in Australia and New Zealand. The deal is structured as a combination of cash and scrip, with Felix also undertaking a capital raise of up to AUD $16 million to support the acquisition and additional growth activity.
Acquisition details
Nexvia's software, established in Brisbane in 2016, is designed to digitise project management processes for small-to-medium-sized businesses in the building industry, particularly subcontractors, fit-out specialists, and builders. Nexvia's solution centralises project budgeting, compliance, document management, live reporting, scheduling and other workflow tools into a single portal.
Nexvia claims the largest market share in the interior fit-out and shopfitting sector across Australia and New Zealand, with recent expansion into the United Kingdom following the addition of a major customer in that market.
Benefits to Felix's platform
Felix's intention is to integrate Nexvia's capabilities into its own vendor marketplace and procurement management system. This integration is designed to expand the product range, create interconnected workflows between procurement and project delivery functions, and provide both SMEs and enterprise customers with unified insights and reporting.
Felix Group's CEO and Co-Founder, Mike Davis, emphasised the role of the acquisition in extending the company's platform and capability, and in enabling increased monetisation through network effects.
"We are excited to announce the highly strategic acquisition of Nexvia to accelerate our growth strategy. Nexvia brings a proven, highly complementary platform and capability set to Felix, delivering a turn-key solution to activate and scale monetisation. With a large and growing Vendor base already in place, we are now well positioned to unlock the value of the ecosystem we have built," said Davis.
Davis added, "Together, we'll create a connected ecosystem that blends best-in-class construction software with a powerful marketplace, helping our customers work smarter, boost profitability, and unlock new growth opportunities in ANZ and beyond."
Strategic market expansion
Following the integration, Felix will offer more than 100,000 suppliers and service providers in its existing vendor marketplace a wider range of digital tools for workflow optimisation and project management. Felix expects this will support its ambitions to grow further in the Australia and New Zealand (ANZ) regions and internationally.
Rob Rowe, Founder and CEO of Nexvia, commented on the alignment between the companies' objectives and the market landscape, stating, "Our partnership with Felix is anchored in a shared mission and values, driven by the significant market opportunity ahead. With Felix's vision and capabilities, we'll accelerate product development, expand programs and help our customers increase profitability."
Felix Group reported a recent period of strong trading, including new enterprise customer wins and the signing of a three-year agreement with PCL Construction's Solar Division in North America. The company aims to build on this momentum with the expanded technology offering following the Nexvia deal.
The platform integration is expected to strengthen cross-platform data insights, streamline procurement and project delivery processes, and provide an end-to-end solution for businesses operating throughout the construction supply chain. The company has stated its intention to continue pursuing further product innovation and organic growth initiatives following the capital raise.
