Following a large flurry of M&A activity in the construction industry this past year, add yet another big announcement to the mix: Textura Corp., www.texturacorp.com, Deerfield, Ill., and its IPO (initial public offering) of shares of common stock to the public. What does this mean for the construction industry going forward?

Pat Allin, chairman and CEO, Textura, says with the commercial economy becoming more buoyant and anticipated growth for the future of construction technology, Textura sees now as a good time for the company to go public. Allin adds, “Based on how the capital market has reacted to us, I think they agree.”

What can contractors expect in the year ahead? It has been some time since one of the big construction-software providers has even announced plans to conduct an IPO. The implications for the construction industry could be vast, especially taking into account the current market conditions.

For one, more attention from the public and investors could be directed to how technology is being used in construction, driving demand for software and related services in an industry once considered a laggard.

“Construction is such a big part of the global economy,” says Allin. “Our numbers would say it is about $7 trillion and about 13% of the global economy. You would think it would attract an awful lot more investment and focus and for whatever set of reasons it doesn’t. It is a huge market and we are going to stay focused on commercial construction.”

Additionally, this announcement could potentially generate more activity and software development from other existing or even new vendors in the space, drawing out more functionality and features for construction companies. In particular, Textura offers a unique set of tools, some organically developed and others acquired, which give the construction industry a means to better manage processes and collaborate.

Allin continues, “We have invested $120 million in building our business. That is a lot of capital and I would expect the industry to attract more capital, especially now when (the market) appears to be in more of an upward cycle. I think it will help the industry be more effective and effective as they work together.”

Textura’s IPO of 5 million shares of common stock started at a price to the public of $15 per share last Friday. The company has also granted the underwriters an option to purchase up to 750,000 additional shares at the IPO price less underwriting, discounts, and commissions. Textura began trading on the New York Stock Exchange under TXTR on June 7.

Allin says this will allow Textura to continue its large investment program throughout 2013 and 2014. Stay tuned. The construction industry can expect big things from Textura in the future.