Infotech Announces Acquisition by Diversis Capital
17 Julio 2024 - 3:11PM
Business Wire
Company to Accelerate Innovation and Strategic
Product Offerings for Infrastructure Construction with Private
Equity Firm Support
Infotech®, a leader in infrastructure construction software
solutions, announced today it was acquired by Diversis Capital
Management, LP, a Los Angeles-based private equity firm focused on
investing in software and technology-enabled services
organizations.
Infotech was founded in 1977 and has served the infrastructure
construction industry as a private company for nearly 50 years.
With increased federal funding for infrastructure, leading
technology providers are making significant investments to serve
the growing demands for digital delivery. With Diversis, Infotech
gains access to resources and expertise to accelerate product
innovation that will benefit the tens of thousands of construction
professionals who use AASHTOWare Project™ and Infotech’s
comprehensive suite of bidding and construction management
tools.
“We’ve been integral to construction management for almost 50
years through our work as the AASHTOWare Project contractor,
serving as critical advisors to nearly all state departments of
transportation, as well as local agencies and engineering firms
across the country,” Tom Rothrock, Infotech Co-Founder said. “We’ve
built a great company with great products and services, and
Diversis will now help us accelerate our speed to market, enhance
our solutions, and increase value to better serve current customers
while also reaching a broader audience.”
Infotech will continue to be the official contractor for
AASHTOWare Project and recently signed its 40th consecutive annual
contract with AASHTO. Additionally, Will McClave will remain as
Infotech CEO.
“Diversis is excited to enter the rapidly growing infrastructure
construction technology space and believe with Infotech we have
found the perfect partner,” said Kevin Ma, Co-Founder and Managing
Partner of Diversis. “Building on Infotech’s long-standing mission
critical role in infrastructure construction, while leveraging our
experience in project management software, tools for front line
workers, and technology solutions serving state and federal
government, we’re excited to partner with Will and his team to
continue to support the needs of AASHTO and its member agencies and
drive product innovations that benefit all stakeholders in this
foundational industry.”
Diversis has a strong track record partnering with founder-run
companies to help scale and extend market leadership. The Diversis
team also has extensive experience in the government technology
space, having invested in multiple software businesses that serve
state and local governments.
"Today is a monumental day for Infotech and our customers, and
we look forward to supporting our users with the same
relationship-focused mindset we have always prioritized,” Will
McClave added. "As we enter the next generation of Infotech,
Diversis will provide the strategic expertise and capital needed to
take our products to the next level - and faster, and we are
incredibly excited about what is to come.”
Union Square Advisors LLC served as exclusive financial advisor
and Driver, McAfee, Hawthorne & Diebenow served as legal
counsel to Infotech for the transaction.
About Infotech
Info Tech Operating LLC, DBA Infotech (Infotech) is a leading
SaaS solutions provider for the infrastructure construction
industry. Informed by DOT relationships and decades of experience,
Infotech develops software solutions that bridge the gaps between
owners, consultants, contractors, and other project stakeholders.
Whether it be tools for construction administration and inspection
or secure online bidding, Infotech’s solutions are built to
increase transparency, productivity, and the availability of data.
Infotech is the developer of Appia®, Bid Express®, and Doc
Express®, as well as the official contractor for AASHTOWare
Project™. For more information on our SaaS offerings, visit
infotechinc.com.
About Diversis Capital Management, LP
Founded in 2013, Diversis Capital Management, LP is a software
and technology focused private equity fund that invests in lower
middle-market companies, targeting situations where it can add
unique value in helping a company reach the next level. With a
collaborative approach to investing, its Operating Partners and
Strategic Advisors work alongside management teams to help build
successful organizations positioned for long-term growth. To learn
more, visit www.diversis.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717909513/en/
Lacey Jones Marketing Officer Infotech
lacey.jones@infotechinc.com