- We at busybusy have some big, exciting news to share. busybusy has been acquired by ToolWatch, a leading provider of construction operations software solutions that help contractors manage their tool/equipment assets, safety, and compliance.
- ToolWatch and busybusy are a great fit, and the combined technology portfolio will enable us to better serve your needs to manage your labor, assets, and safety program.
- ToolWatch addresses many operational challenges contractors like you face as you execute projects, including project resourcing, field visibility, and communication, financial operations such as job cost and billing, environmental health and safety, OSHA compliance, and more.
- By joining ToolWatch, we will immediately identify opportunities to add safety and compliance capabilities from ToolWatch in the busybusy platform to bring additional value to you and our other customers. However, that process will likely take multiple months to realize.
- In the medium and long run, our vision for busybusy and ToolWatch together is to allow customers to broadly manage their construction operations on a single platform.
Q. Who is ToolWatch?
- ToolWatch provides construction companies with an integrated solution to streamline complex workflows during construction projects, including tool/materials tracking, inventory management, equipment purchasing and fulfillment, job costing and billing, safety management, and field productivity optimization. With the ToolWatch platform, customers can better coordinate between geographically dispersed field teams, back office administrators, and warehouse workers to efficiently manage supply chain logistics and create a working environment by ensuring that employees are trained, hazards are understood, and issues are remediated before they manifest themselves (www.toolwatch.com).
ToolWatch currently serves thousands of customers who are mostly in the construction industry, though ToolWatch also serves multiple additional industries, including utilities, oil & gas, manufacturing, loss control, business services, and others. ToolWatch is headquartered in Englewood, Colorado.
Q. What is the relationship between Riverside and ToolWatch?
- The Riverside Company is a private equity investment firm and is the majority owner of ToolWatch. Riverside team members are on ToolWatch’s Board of Directors, but do not play any day-to-day operational role at the company. ToolWatch is not a subsidiary or division of Riverside.
Q. Why did busybusy decide to combine with ToolWatch?
- busybusy is a successful and growing business as it is, with our solutions being adopted by 100s of new users every month. By combining with ToolWatch, busybusy will expand and accelerate our roadmap to bring more capabilities and value to our customers. We see opportunities to improve the existing workforce management solution we offer, as well as bring safety-related features from ToolWatch to our customers.
ToolWatch is building a broad, multi-product company with the mission to deliver a suite of operational solutions that contractors need to operate efficiently, safely, and profitably; our workforce management solutions will play a critical role in making that vision a reality.
Q. Will busybusy remain an independent company?
- While we are now one combined company, the ToolWatch and busybusy brands will continue to coexist in the market for the foreseeable future, much like what ToolWatch has done with Safety Reports (www.safety-reports.com) since 2022.
Q. Do ToolWatch and busybusy work with the same customers?
- Both organizations serve the construction industry primarily. ToolWatch and busybusy share a significant number of customers.
Q. What should I expect as a busybusy customer?
- We are focused on helping our customers solve their most important business challenges – and customers should greatly benefit from the combined solution. busybusy’s workforce management solution and ToolWatch’s construction operations platform are a natural fit, and you shouldn’t expect to notice any changes except, hopefully, continued enhancements in the products and services you receive.
Q. Will I continue to work with my same contacts at busybusy?
- Yes. We will maintain all current busybusy staff through the acquisition.
Q. Who will run the combined company?
- Jay Martin will be the CEO of the combined company and the ToolWatch executive team will remain unchanged. Derrik Shakespear (busybusy CRO) and Brigham Timpson (busybusy COO) will join the ToolWatch management team effective immediately and retain their existing responsibilities while we evaluate integration options.