Congratulations to BCIS on securing investment from Bowmark Capital

GCS is pleased to have provided Vendor Commercial Due Diligence to LDC and BCIS on the sale of BCIS to Bowmark Capital, marking a successful exit following a four-year partnership. This marks yet another full transaction lifecycle for GCS, having supported LDC on its original acquisition of BCIS in 2022.

Founded in 1961 by the Royal Institution of Chartered Surveyors (RICS), BCIS is the UK's leading independent provider of construction cost data, benchmarking and valuation insight. Its proprietary dataset spans capital costs, operational costs, insurance, carbon and reinstatement data, and is relied upon by more than 4,000 subscribing organisations across construction, infrastructure, asset management and insurance to support cost planning, forecasting and risk management.

LDC backed BCIS's management team in June 2022 in a carve-out from RICS, on which GCS provided buy-side Commercial Due Diligence. Over the four-year holding period, LDC supported an ambitious growth strategy that saw BCIS more than double its headcount, grow recurring revenues at over 25% per annum, and more than double EBITDA. Key milestones included the acquisition of price book provider Griffiths and Hutchins in 2023 and the launch of BCIS Rebuild Plus in 2025, an AI-enabled tool enabling insurers to address underinsurance across residential and commercial properties.

For the exit, GCS was engaged to provide Vendor CDD, assessing BCIS's market position, customer base and retention dynamics, competitive differentiation, and growth opportunities across construction data and adjacent insurance markets, providing a robust evidence base to support the sale process.

The GCS team on the transaction was led by James Tetherton and Nick Batchelor.

"Having supported LDC on its original acquisition of BCIS in 2022, it was a particular privilege to be involved again as the business reached this milestone. Over the intervening years, BCIS has grown into an even more compelling business as it strengthened its data capabilities, expanded its product suite and cemented its position as the trusted standard for construction cost intelligence in the UK. We wish Richard Linstead and the team continued success with Bowmark."

— James Tetherton, Founding Partner, GCS

"Throughout our time working together, while operating as a business and during DD, we were hugely impressed by the degree to which GCS truly understood BCIS - our market, products and subscribers. GCS's analysis was always deeply researched and insightful and it was an absolute pleasure working with James and the whole team."

— Richard Linstead, CEO, BCIS

This engagement reflects GCS's long-standing expertise in data and analytics businesses serving the built environment, and our ability to support investors through the full transaction lifecycle: from initial acquisition through to a successful exit.