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2019-08-22

Serent Capital Invests in Davisware, a Leading Field Services ERP Software Company

Austin & San Francisco– August 22, 2019 – Davisware, a leading provider of ERP software for field services businesses, has partnered with Serent Capital, a private equity firm with offices in Austin and San Francisco focused on investing in high-growth technology and services businesses.

Davisware serves field services businesses, contractors and OEMs across a variety of end markets including food equipment service, petroleum contracting, commercial HVAC, and other specialty trades. Davisware’s offerings include modular ERP systems, remote scheduling and field technician management, field sales enablement, real-time vehicle tracking, inventory management system, and warranty management software.

“For more than 30 years, we’ve been focused on delivering the best, most innovative solutions to our customers in the Field Services Industry” said Davisware’s Co-Founder and CEO Dan Davis. “Our partnership with Serent will bring the resources and expertise needed to reach even more customers and with more innovation.”

“This is an exciting time for Davisware”, added Co-Founder and President, Jennifer Davis. “Since inception, Davisware has been focused on improving the operational efficiency of its customers via innovation and process automation. We are passionate about the growth of the trades through technology and education. As we continue to scale, we wanted to bring on an investment partner who could enable the next phase of our growth and we feel that Serent Capital is perfectly suited to help us capture the opportunities ahead.”

"Over three decades, Dan, Jennifer, and the Davisware team have built a robust software platform with a passionate customer base and a wonderful culture. We are thrilled to be partnering with them” said Lance Fenton, Partner at Serent Capital. “They are a leading software provider in the markets they serve, and we look forward to working with Davisware team to help continue the company's track-record of growth and innovation.”  

As part of this investment, both Dan and Jennifer will be joining the Board of Directors and Jennifer will continue leading Davisware and work closely with Serent and the rest of the Board to further strengthen the company’s foundation for growth.

Serent’s investment in Davisware represents its ninth investment in the field services industry, including Real Green Systems, Next Gear Solutions, Mercury Network, and CoConstruct.

GCA Advisors, LLC acted as financial advisor to Davisware in the transaction.

 

About Serent Capital

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.

About Davisware

West Dundee, IL-based Davisware is a global software company that began in a family HVAC business in 1988. Thousands of companies use Davisware technology suites to manage, organize and grow their service contracting businesses from startup to enterprise level businesses. They employ a team of empathetic and creative problem-solvers. They combine technical and industry expertise with the goal of providing customers with the most current technology coupled with educational opportunities to learn both the tools and the best practices.

Together with education and technology, Davisware customers are able to most efficiently and profitably manage their businesses. Helping its customers become exponential through the use of technology and education is how Davisware fulfills its mission of partnership in the growth of their customers businesses. For more information, visit the company's website at www.davisware.com.

About GCA

GCA is a global investment bank that provides strategic M&A and capital markets advisory services to growth companies and market leaders. The firm offers worldwide coverage with over 400 professionals in 21 offices across America, Asia and Europe. Built by the people that run the business, GCA is a firm of experts who focus on deals that require commitment, original perspective, skill and exceptional networks. Learn more at www.gcaglobal.com.

Disclaimer

This information is intended exclusively for the use of the person to whom it was delivered on behalf of Serent Capital Management Company, L.L.C. ("Serent") and may not be reproduced or used for any other purpose. It does not constitute an offer to sell or the solicitation of an offer to buy interests in any private investment vehicle managed by Serent (collectively, the "Funds"). Offers and sales will be made only pursuant to a confidential private placement memorandum (the "Memorandum"), which describes the terms and risks of an investment. Nothing presented herein is intended to constitute investment advice, nor sales material, and no investment decision should be made based on any information provided herein. Information provided reflects Serent's views as of a particular time and are subject to change without notice. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. While Serent has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein.

Past performance is not indicative of future results. There can be no guarantee that any investment strategy employed by Serent will be successful. An investment in the Funds managed by Serent is speculative, illiquid, and involves a high degree of risk, including possible loss of principal.

The portfolio companies highlighted do not necessarily represent all of the investments made or recommended by Serent, and it should not be assumed that the specific investments identified and discussed herein were or will be profitable. It should be specifically noted that not all transactions entered into by Serent will be profitable or will equal the performance of the companies described herein. No guarantee of investment performance is being provided and no inference to the contrary should be made. A full list of portfolio holdings is available on Serent's website.