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December 2, 2021

Building Engines Acquired by JLL

River Cities is pleased to announce that Building Engines, a Fund V portfolio company, sold to commercial property firm Jones Lang LaSalle Inc., also known as JLL, for $300 million.

Building Engines provides an innovative, mission critical building operations software platform to owners and managers of commercial, industrial and retail real estate properties, improving net operating income across portfolios. The platform helps property operations teams improve service delivery and tenant satisfaction, mitigate operational risk and maintain their properties and equipment.

“Tim Curran, the entire Building Engine’s team and WaveCrest did an outstanding job and were exceptional partners,” says Rob Heimann, Managing Director for RCC. “While tripling recurring revenue, the team upgraded the tech platform to a modern mobile-first offering, recruited exceptional talent, completed several strategic acquisitions and broadened its offering to a leading platform across building operations, energy management, procurement and tenant experience.”

“The partnership with RCC and WaveCrest has been excellent. They have been active, value-added investors every step of the way, working hand-in-hand with the management team to grow the company. They offered great introductions to customers, partners and other investors along the way,” says Tim Curran, CEO of Building Engines.