"At ToolWatch, our mission is to create powerful tools that help contractors better understand and navigate an increasingly complex business landscape," commented Jay Martin, ToolWatch CEO. "busybusy's record of innovation in time tracking for field-based workers is an ideal complement to the ToolWatch suite of construction operations solutions. ToolWatch continues to aggressively build out its platform capabilities, most recently adding an integrated EHS module. Workforce management is the logical next step, since bringing these capabilities together creates safer, more efficient job sites."
Founded in 2010, busybusy's GPS time tracking and jobsite monitoring software has tracked nearly 58 million timecard hours at thousands of companies in more than 30 countries. busybusy serves customers in industries that include general contractors, excavation, concrete, electrical, masonry, roofing, welding, remodeling, landscaping, mining, janitorial services, property management, fire protection services, telecom, and others. The company's technology empowers field employees across this landscape to track labor, materials, and heavy equipment from an easy-to-use mobile app that gives management real-time insights into field crew productivity plus accurate data for improved job costing and estimating, faster payroll processing, and better decision making. Considered a job site essential for its reliability and ease of use, busybusy's user-friendly app is simple to implement in the field and to integrate with leading accounting, estimating, payroll, and project management software including Procore, Quickbooks, and Sage.
"busybusy was founded to bring order to the inherently chaotic construction environment and to make projects run more smoothly by quickly delivering information to the people that need it," said busybusy CEO Isaac Barlow. "Combining with ToolWatch will give us the resources and support necessary to expand our product offering to cover critical capital and expense items, thereby boosting the value of our job cost and billing capabilities."
Market leaders in their respective spaces, ToolWatch and busybusy share a customer base and a mission to increase contractors' productivity and efficiency. Customers look to both entities to streamline workflows and provide data that improves visibility into operations.
The combined organization is well positioned to drive innovation and deliver an enhanced customer experience through the exchange of intellectual property.
The acquisition will add workforce management to the ToolWatch platform's existing construction operations and EHS capabilities while bringing ToolWatch's workplace safety and construction operations expertise to busybusy. ToolWatch job costing and billing workflows will ultimately expand to include labor costs, equipment status, tool usage, and consumable replenishment, relieving accounting teams of manually collecting and calculating this data.
ToolWatch and busybusy customers can continue to expect the high levels of uninterrupted customer support. As part of the transition, busybusy employees will join the ToolWatch organization, with Jay Martin serving as CEO of the combined entity.
The Riverside Company, a global growth-oriented private equity firm, is the majority investor in ToolWatch and provided additional capital to fund this strategic combination.
About ToolWatch:
For 30 years ToolWatch has helped leaders from construction and other industries across the globe manage their tool and material inventories, logistics, and safety programs. Easy to use and delivered through a powerful cloud-based platform, ToolWatch provides fast and secure access to real-time operations data to help its customers run their businesses more efficiently, more cost-effectively and more profitably. Since a strategic investment in 2021 from The Riverside Company, a global private equity firm, ToolWatch has continued building on its position as the construction industry's first and most comprehensive operations management platform. For more information about ToolWatch, visit www.toolwatch.com.
About busybusy:
Based in Saint George, Utah, busybusy is a leader in software solutions for the construction industry. The company engineered and developed the popular busybusy Mobile Time Tracking App. Created by contractors for contractors, busybusy automates time and GPS labor tracking, job costing and photo documentation. The company's mission is to provide contractors timely, accurate information to make profitable business decisions. For more information about busybusy, visit www.busybusy.com.
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SOURCE ToolWatch
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