Summary
- Bentley Systems has filed for a $194 million IPO, with all the proceeds going to selling shareholders.
- The firm provides infrastructure software to clients worldwide.
- BSY is growing revenue moderately, is producing strong profits and plenty of free cash flow, so the IPO is worth a close look.
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Quick Take
Bentley Systems (BSY) has filed to raise $194 million for selling shareholders from the sale of its Class B stock in an IPO, according to an amended registration statement.
The company provides infrastructure engineering software to clients worldwide.
BSY is growing top line revenue at a moderate rate, is producing strong profits and free cash flow, and the IPO appears reasonably valued, so is worth consideration.
Company and Technology
Exton, Pennsylvania-based Bentley was founded to develop workflow software for infrastructure engineering for public works, industrial and commercial facilities globally.
Management is headed by President, Chairman and CEO Mr. Gregory Bentley, who has been with the firm since August 2000 and was previously founder and CEO of Devon Systems.
In addition, the firm was co-founded by Chief Technology Officer/EVP Keith Bentley and Director and EVP Barry Bentley.
Below is a brief overview video of the firm's 'Digital Twin' approach:
