diff --git a/src/main/kotlin/com/beust/kobalt/app/BuildFileCompiler.kt b/src/main/kotlin/com/beust/kobalt/app/BuildFileCompiler.kt
index 3a9e8198..a03cae12 100644
--- a/src/main/kotlin/com/beust/kobalt/app/BuildFileCompiler.kt
+++ b/src/main/kotlin/com/beust/kobalt/app/BuildFileCompiler.kt
@@ -32,7 +32,7 @@ import javax.inject.Inject
  * 1) Extract the repos() and plugins() statements in a separate .kt and compile it into preBuildScript.jar.
  * 2) Actually build the whole Build.kt file after adding to the classpath whatever phase 1 found (plugins, repos)
  */
-class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFiles: List<BuildFile>,
+public class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFiles: List<BuildFile>,
         @Assisted val pluginInfo: PluginInfo, val files: KFiles, val plugins: Plugins,
         val dependencyManager: DependencyManager, val pluginProperties: PluginProperties,
         val executors: KobaltExecutors, val buildScriptUtil: BuildScriptUtil, val settings: KobaltSettings,
@@ -71,7 +71,7 @@ class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFil
         return projectResult
     }
 
-    val compiledBuildFiles = arrayListOf<ProcessedBuildFile>()
+    val parsedBuildFiles = arrayListOf<ParsedBuildFile>()
 
     class FindProjectResult(val context: KobaltContext, val projects: List<Project>, val pluginUrls: List<URL>,
             val taskResult: TaskResult)
@@ -80,9 +80,9 @@ class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFil
         var errorTaskResult: TaskResult? = null
         val projects = arrayListOf<Project>()
         buildFiles.forEach { buildFile ->
-            val compiledBuildFile = parseBuildFile(context, buildFile)
-            compiledBuildFiles.add(compiledBuildFile)
-            val pluginUrls = compiledBuildFile.pluginUrls
+            val parsedBuildFile = parseBuildFile(context, buildFile)
+            parsedBuildFiles.add(parsedBuildFile)
+            val pluginUrls = parsedBuildFile.pluginUrls
             val buildScriptJarFile = File(KFiles.findBuildScriptLocation(buildFile, SCRIPT_JAR))
 
             //
@@ -102,7 +102,7 @@ class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFil
             // Write the modified Build.kt (e.g. maybe profiles were applied) to a temporary file,
             // compile it, jar it in buildScript.jar and run it
             val modifiedBuildFile = KFiles.createTempFile(".kt", deleteOnExit = true)
-            KFiles.saveFile(modifiedBuildFile, compiledBuildFile.splitFile.buildScriptCode)
+            KFiles.saveFile(modifiedBuildFile, parsedBuildFile.buildScriptCode)
             val taskResult = maybeCompileBuildFile(context, BuildFile(Paths.get(modifiedBuildFile.path),
                     "Modified ${Constants.BUILD_FILE_NAME}", buildFile.realPath),
                     buildScriptJarFile, pluginUrls)
@@ -118,7 +118,7 @@ class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFil
             context.internalContext.absoluteDir = null
 
         }
-        val pluginUrls = compiledBuildFiles.flatMap { it.pluginUrls }
+        val pluginUrls = parsedBuildFiles.flatMap { it.pluginUrls }
         return FindProjectResult(context, projects, pluginUrls,
                 if (errorTaskResult != null) errorTaskResult!! else TaskResult())
     }
@@ -167,5 +167,5 @@ class BuildFileCompiler @Inject constructor(@Assisted("buildFiles") val buildFil
      * - the URL's of all the plug-ins that were found.
      */
     private fun parseBuildFile(context: KobaltContext, buildFile: BuildFile) =
-        processedBuildFileFactory.create(buildFile, context)
+            ParsedBuildFile(buildFile, context, buildScriptUtil, dependencyManager, files)
 }
diff --git a/src/main/kotlin/com/beust/kobalt/app/ParsedBuildFile.kt b/src/main/kotlin/com/beust/kobalt/app/ParsedBuildFile.kt
new file mode 100644
index 00000000..9029358b
--- /dev/null
+++ b/src/main/kotlin/com/beust/kobalt/app/ParsedBuildFile.kt
@@ -0,0 +1,162 @@
+package com.beust.kobalt.app
+
+import com.beust.kobalt.KobaltException
+import com.beust.kobalt.Plugins
+import com.beust.kobalt.api.Kobalt
+import com.beust.kobalt.api.KobaltContext
+import com.beust.kobalt.api.Project
+import com.beust.kobalt.internal.build.BuildFile
+import com.beust.kobalt.internal.build.VersionFile
+import com.beust.kobalt.maven.DependencyManager
+import com.beust.kobalt.misc.KFiles
+import com.beust.kobalt.misc.countChar
+import com.beust.kobalt.misc.kobaltLog
+import com.beust.kobalt.plugin.kotlin.kotlinCompilePrivate
+import java.io.File
+import java.net.URL
+import java.nio.charset.Charset
+import java.nio.file.Paths
+import java.util.*
+
+class ParsedBuildFile(val buildFile: BuildFile, val context: KobaltContext, val buildScriptUtil: BuildScriptUtil,
+        val dependencyManager: DependencyManager, val files: KFiles) {
+    val pluginList = arrayListOf<String>()
+    val repos = arrayListOf<String>()
+    val buildFileClasspath = arrayListOf<String>()
+    val profileLines = arrayListOf<String>()
+    val pluginUrls = arrayListOf<URL>()
+    val projects = arrayListOf<Project>()
+    val activeProfiles = arrayListOf<String>()
+
+    private val preBuildScript = arrayListOf(
+            "import com.beust.kobalt.*",
+            "import com.beust.kobalt.api.*")
+    val preBuildScriptCode : String get() = preBuildScript.joinToString("\n")
+
+    private val buildScript = arrayListOf<String>()
+    val buildScriptCode : String get() = buildScript.joinToString("\n")
+
+    init {
+        parseBuildFile()
+        initPluginUrls()
+    }
+
+    private fun parseBuildFile() {
+        var parenCount = 0
+        var current: ArrayList<String>? = null
+        buildFile.path.toFile().forEachLine(Charset.defaultCharset()) { line ->
+            var index = line.indexOf("plugins(")
+            if (current == null) {
+                if (index >= 0) {
+                    current = pluginList
+                } else {
+                    index = line.indexOf("repos(")
+                    if (index >= 0) {
+                        current = repos
+                    } else {
+                        index = line.indexOf("buildFileClasspath(")
+                        if (index >= 0) {
+                            current = buildFileClasspath
+                        }
+                    }
+                }
+            }
+
+            if (parenCount > 0 || current != null) {
+                if (index == -1) index = 0
+                with(line.substring(index)) {
+                    parenCount += line countChar '('
+                    if (parenCount > 0) {
+                        current!!.add(line)
+                    }
+                    parenCount -= line countChar ')'
+                }
+            }
+
+            if (parenCount == 0) {
+                current = null
+            }
+
+            /**
+             * If the current line matches one of the profiles, turn the declaration into
+             * val profile = true, otherwise return the same line
+             */
+            fun correctProfileLine(line: String) : String {
+                (context.profiles as List<String>).forEach {
+                    if (line.matches(Regex("[ \\t]*val[ \\t]+$it[ \\t]*=.*"))) {
+                        with("val $it = true") {
+                            kobaltLog(2, "Activating profile $it in build file")
+                            activeProfiles.add(it)
+                            profileLines.add(this)
+                            return this
+                        }
+                    }
+                }
+                return line
+            }
+
+            buildScript.add(correctProfileLine(line))
+        }
+
+        repos.forEach { preBuildScript.add(it) }
+        pluginList.forEach { preBuildScript.add(it) }
+        buildFileClasspath.forEach { preBuildScript.add(it) }
+    }
+
+    private fun initPluginUrls() {
+        //
+        // Compile and run preBuildScriptCode, which contains all the plugins() calls extracted. This
+        // will add all the dynamic plugins found in this code to Plugins.dynamicPlugins
+        //
+        val pluginSourceFile = KFiles.createTempFile(".kt", deleteOnExit = true)
+        pluginSourceFile.writeText(preBuildScriptCode, Charset.defaultCharset())
+        kobaltLog(2, "Saved ${pluginSourceFile.absolutePath}")
+
+        //
+        // Compile to preBuildScript.jar
+        //
+        val buildScriptJar = KFiles.findBuildScriptLocation(buildFile, "preBuildScript.jar")
+        val buildScriptJarFile = File(buildScriptJar)
+        if (! buildScriptUtil.isUpToDate(buildFile, File(buildScriptJar))) {
+            buildScriptJarFile.parentFile.mkdirs()
+            generateJarFile(context, BuildFile(Paths.get(pluginSourceFile.path), "Plugins",
+                    Paths.get(buildScriptJar)), buildScriptJarFile, buildFile)
+            VersionFile.generateVersionFile(buildScriptJarFile.parentFile)
+            Kobalt.context!!.internalContext.buildFileOutOfDate = true
+        }
+
+        //
+        // Run preBuildScript.jar to initialize plugins and repos
+        //
+        projects.addAll(buildScriptUtil.runBuildScriptJarFile(buildScriptJarFile, arrayListOf<URL>(), context))
+
+        //
+        // All the plug-ins are now in Plugins.dynamicPlugins, download them if they're not already
+        //
+        Plugins.dynamicPlugins.forEach {
+            pluginUrls.add(it.jarFile.get().toURI().toURL())
+        }
+    }
+
+    private fun generateJarFile(context: KobaltContext, buildFile: BuildFile, buildScriptJarFile: File,
+            originalFile: BuildFile) {
+
+        //
+        // Compile the jar file
+        //
+        val kotlintDeps = dependencyManager.calculateDependencies(null, context)
+        val deps: List<String> = kotlintDeps.map { it.jarFile.get().absolutePath }
+        val outputJar = File(buildScriptJarFile.absolutePath)
+        val result = kotlinCompilePrivate {
+            classpath(files.kobaltJar)
+            classpath(deps)
+            sourceFiles(buildFile.path.toFile().absolutePath)
+            output = outputJar
+        }.compile(context = context)
+        if (! result.success) {
+            throw KobaltException("Couldn't compile ${originalFile.realPath}:\n"
+                    + result.errorMessage)
+        }
+    }
+}
+