a leading global provider of enterprise-class software solutions to the
convenience retail and wholesale petroleum and logistics industries,
today announced that it has entered into a strategic partnership
with Genstar Capital (www.gencap.com),
a leading private equity firm based in San Francisco. TA Associates (www.ta.com),
which invested in PDI in 2016, will continue as a significant
A strategic partnership with Genstar and TA Associates is expected to
accelerate PDI's transformation into a global leader in the convenience
retail and wholesale petroleum and logistics industries. This
partnership builds on PDI's 30-year heritage and its mission to put
customers first and provide them with leading software solutions,
technologies and services to help them thrive in the digital economy.
"Genstar is an experienced software investor with a long-term
perspective that will help PDI continue to deliver for our customers,
innovate our software portfolio, provide world-class global service, and
focus on new untapped markets," said Jimmy Frangis, chief executive
officer, PDI. "We believe that our strategic partnership with Genstar
and TA Associates supports and builds on our mission to be a trusted
partner and advisor for our customers, addressing their ongoing and
evolving enterprise software and services needs. This investment is a
strong vote of confidence in PDI's long-term strategy and future growth
potential, and we look forward to working with our partners to continue
to strengthen and broaden our market footprint."
"Genstar focuses on identifying market leaders in the software sector
and we believe that PDI has established n unmatched presence in the
market for more than 30 years," said Eli Weiss, managing director,
Genstar Capital. "We are confident that the breadth of PDI's current
portfolio along with the potential for expanding its existing services
and software offerings will bring a new level of experience to the
industries and the customers it serves. Our added capital and resources
in partnership with TA Associates will provide PDI with the means to
further develop their technology and allow for strategic add-on
acquisitions that we believe will meet the needs of a rapidly changing
market. We look forward to working with the PDI management team and TA
to help accelerate the company's growth."
"Since beginning our partnership with the PDI management team in May
2016, PDI has successfully executed against its growth strategy, rapidly
accelerating topline revenue growth, delivering significant levels of
product innovation and deepening its presence in international markets,"
said Hythem T. El-Nazer, managing director, TA Associates. "We are
delighted to partner with Genstar to continue to build upon the strong
foundation that we believe exists at PDI to deliver superior service,
support and innovation to customers and the marketplace. PDI has
accomplished a great deal in the last 15 months, and we believe that its
future is bright."
Added Mr. Frangis, "PDI has helped customers thrive in today's digital
economy with innovative software so they can run their business better.
Our customers trust our people and our company because of our deep
knowledge of the industry and of their business. PDI's customers are
truly the cornerstone of our success, and we look forward to the support
of our strategic investors in helping us continue to serve our customers
and to provide them with unprecedented value."
Lazard served as exclusive financial advisor to PDI.
Additional terms of the deal were not disclosed.
About PDIPDI (www.profdata.com)
provides enterprise software and solutions to the leading convenience
retailers, wholesale petroleum marketers and logistics carriers. Over
1,200 customers in more than 50 countries rely on PDI's software for
retail, wholesale and logistics automation, financial reporting,
business insights, workforce management and end-to-end fuel supply chain.
About Genstar CapitalGenstar Capital (www.gencap.com)
is a leading private equity firm that has been actively investing in
high quality companies for more than 25 years. Based in San Francisco,
Genstar works in partnership with its management teams and its network
of strategic advisors to transform its portfolio companies into
industry-leading businesses. Genstar manages funds with total capital
commitments of approximately $9 billion and targets investments focused
on targeted segments of the financial services, software, industrial
technology, and healthcare industries.
About TA AssociatesTA Associates (www.ta.com)
is one of the largest and most experienced global growth private equity
firms. Focused on five target industries - technology, healthcare,
financial services, consumer and business services - TA invests in
profitable, growing companies with opportunities for sustained growth,
and has invested in nearly 500 companies around the world. Comfortable
as either a majority or minority investor, TA employs a long-term
investing approach, utilizing its strategic resources to help management
teams build lasting value in growth companies. TA has raised $24 billion
in capital and is investing out of current funds of $7.25 billion. The
firm's more than 85 investment professionals are based in Boston, Menlo
Park, London, Mumbai and Hong Kong.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170825005232/en/
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