Northwater Capital Asks Textura To Explore Strategic Alternatives, Incl. Sale

(RTTNews) - Textura Corp. (TXTR), provider of collaboration solutions for the construction industry, announced that its Board of Directors has received a letter from Board member David Patterson on behalf of Northwater Capital Management Inc., of which he is Chief Executive Officer and Chair, and the investment funds it advises, recommending that the Board of Directors of Textura explore strategic alternatives, including a sale of Textura.

Northwater-affiliated entities own approximately 19% of Textura.

Textura stated that its board plans to consider the recommendations contained in Northwater's letter and will determine what is in the best interests of Textura's shareholders.