AIA Announces Partnership for Document Program
At the end of last month, the American Institute of Architects announced a new strategic partnership with True Wind Capital to invest in AIA’s Contract Document Program.
The association says the deal aims to drive innovation in the platform and better serve customers and members over the long-term.
True Wind Capital is a long-term growth-oriented private equity firm that focuses on investing in “high quality technology companies,” according to AIA.
True Wind Capital, in partnership with the AIA, will invest in the ACD platform and product suite to enhance value to members and customers. AIA will continue to play a significant role in the future and direction of ACD.
“AIA’s Contract Documents has had a storied legacy in the market for the last 132 years,” said AIA 2020 President Jane Frederick, FAIA.
“It has been a tried and true product that has defined the terms and relationships involved in design and construction projects. But like so much in our industry, it has advanced far beyond being a collection of 200 contracts and forms. We need to think of this as a digital service that requires sophisticated user-friendly technology. In True Wind Capital, AIA has found a partner with the full expertise and resources to invest in ACD’s long-term success.”
As part of the new strategic partnership, Chris Anderson has been appointed Chief Executive Officer of ACD. Anderson was the former CEO of Building Systems Design, a provider of specification software and content.
“I am honored to work alongside AIA to take ACD to the next level,” said Anderson. “AIA has a remarkable brand and reputation within the industry, and I look forward to building upon the successful legacy of the program and delivering further value to our ACD customers.”