PE-backed Think Project adds to board of directors

TA Associates-backed Think Project! has named Peter Prestele to its board of directors. Prestele is a former general manager and European head for a number of companies that include Mercury, IBM and HP. Based in Germany, Think Project! is an SaaS company for collaboration in construction and engineering.

PRESS RELEASE

think project!, the leading SaaS company for collaboration in construction and engineering, today announced the appointment of SaaS expert Peter Prestele as a non-executive member of the Board of Directors. With the addition of Mr. Prestele to the Board, think project! continues its successful growth strategy to target the construction SaaS market.

Mr. Prestele began his professional career 25 years ago with Intergraph, a software provider in the construction and engineering sector. Since then, he has held various sales and general management positions in the software industry, serving as General Manager and European head for a number of companies, including I2 Technologies, Mercury, IBM, HP and SuccessFactors. Over his career, he has gained extensive experience with hypergrowth companies, transformational situations and SaaS business models. Mr. Prestele currently is an advisor to a number of private equity firms and serves as a Board Member of several cloud-based software companies across Europe. Mr. Prestele earned a master’s degree in mechanical engineering from Munich University of Applied Sciences.

“With the global addressable market for construction collaboration software estimated to be $5.6 billion, and with a current penetration of less than 10%, one of our major goals is to focus on this considerable market potential,” said Thomas Bachmaier, CEO of think project!. “Peter’s extensive and long-term experience in the software industry, both in management and board roles, will provide valuable support for our company as we pursue additional growth. We are confident that Peter will play a critical role, especially when it comes to the further expansion of think project! into international markets, as well as the overall strengthening of our position as a leading SaaS company in construction and engineering.”

Commenting on his appointment, Peter Prestele stated, “I am honoured and thrilled to join think project!, particularly given that construction and engineering is one of the largest industrial segments. Customers in this market are dealing with some of the most complex requirements and must perform multidimensional projects, both locally and globally. think project! has created a unique offering that provides substantial value and helps its customers to fundamentally differentiate themselves in an increasingly competitive marketplace. think project! is leading edge and I am thrilled to support Thomas and his team, and to leverage the opportunity ahead.”

About think project!:
For more than 15 years, think project! has delivered a readily available and shapeable common data environment (CDE) for construction and engineering projects. think project! meets the emerging need for digital construction solutions that facilitate cross-enterprise collaboration and overall information management. think project!’s offer also includes process management solutions for building information modelling (BIM) and interfaces to general business applications such as ERP. think project! addresses today’s digitalisation challenges in construction and engineering by providing state-of-the-art software solutions as well as industry expert consulting and services.
think project! was founded in 2000 in Munich, Germany. Since then, the company has grown into the leading provider for cross-enterprise collaboration and information management in Europe. think project! also holds shares in companies offering complementary solutions and services.

Global customers from the construction and engineering industries are served from think project!’s home base in Munich and via a range of subsidiaries across Europe. From the R&D headquarters in Berlin, multi-national R&D teams responsible for software development and innovation are coordinated.