MSUITE, a Cedar Rapids-based construction technology startup, was acquired by Stanley Black & Decker, a Fortune 500 manufacturer of industrial tools and household hardware, the company announced May 13.
MSUITE connects building information modeling and field construction teams to help track, the life-cycle of a construction project, according to their website.
“Our clients will receive the valuable software offering and dependable service to which they are accustomed and an improved experience through our combined offerings,” said Britton Langdon, founder and CEO, in a statement. “We firmly believe acquiring MSUITE is the best long-term decision for our customers and our team.”
The MSUITE team will continue to be led by Britton Langdon as vice president of construction technology for Stanley Black & Decker.
Stanley Ventures, the strategic investors associated with Stanley Black & Decker, along with Next Level Ventures, gave $4 million in funding to MSUITE in August 2020 to help the company scale and innovate.
“It is an honor to welcome the MSUITE team to Stanley Black & Decker,” said Brad Roberts, president of Total Trade Solutions at Stanley Black & Decker. “I’ve valued our partnership, having worked together on the development of DEWALT HangerWorks PRO, and look forward to bringing their staff further into the company fold.”
Terms of the acquisition were not disclosed.
New York-based Pillsbury Winthrow Shaw Pittman LLP advised MSUITE on the deal, according to a Pillsbury press release.
