Bow River Capital acquires Vitruvi in majority recapitalization

• Founded in 2016, Vitruvi provides a purpose-built solution to companies in telecommunications, energy and utilities and renewable power sectors
• Bow River invested in the company through its software growth equity team
• Investment proceeds will enable Vitruvi to accelerate growth, deliver innovations within its product suite and scale globally

Bow River Capital has completed a majority recapitalization of Vitruvi, a Calgary-based  geospatial-focused construction management software platform. No financial details of the transaction were disclosed.

Bow River invested in the company through its software growth equity team.

Vitruvi’s current management team will continue to lead the organization.

Founded in 2016, Vitruvi provides a purpose-built solution to companies in telecommunications (fiber broadband and wireless), energy and utilities (power and gas transmission and distribution) and renewable power sectors. Its digitized workflows and analytics help optimize execution across six functions (design and planning, financial controls, scheduling, field production reporting, quality assurance, and compliance and reporting), all integrated with geospatial information system designs.

Bow River’s investment will enable Vitruvi to accelerate growth, deliver innovations within its product suite and scale globally.

“Compliance, financial management, operating efficiencies, and accurate business decision support are critical elements across every organization’s executive leadership, project and engineering management and field technician teams,” said Steven Joanis, managing director of Bow River’s software growth equity team, in a statement. “Vitruvi’s single source of truth for large end-to-end construction projects is critically important to create efficiency and foster collaboration for a world that, we believe, will continue to grapple with unprecedented deployment of capital in communications and utility infrastructure.”

Bow River is a private alternative asset management firm based in Denver, Colorado. It is focused on investing in lower mid-market companies in four asset classes: software growth equity, private credit, private equity and real estate.

Holland & Hart and Bennett Jones served as legal counsel to Bow River on the transaction.