Bain Capital Private Equity has agreed to recapitalize TriTech Software Systems, a provider of public safety software. No financial terms were disclosed. The deal is expected to close during the second quarter of 2018. William Blair & Company LLC was financial adviser to TriTech Software Systems on the transaction.
SAN DIEGO, CA – May 31, 2018 — TriTech Software Systems, the leader in public safety technology, today announced the signing of a definitive agreement to be recapitalized by Bain Capital Private Equity, a leading global private investment firm. Financial terms of the private transaction were not disclosed.
Founded in 1992, TriTech Software Systems has revolutionized the public safety industry as one of the first to embed mapping technology into computer-aided dispatch software, and is now the market leader in public safety software with the widest deployment of cloud-based agency solutions. The company provides a powerful software suite to over 4,000 police, fire and EMS agencies across the U.S. and is at the center of the increasing demands for data sharing and proactive connectivity needed to make communities and first responders safer.
“We are excited to partner with Bain Capital as we continue to advance our mission of relentlessly improving the mission-critical technology of public safety to better inform incident response, and citizen and first responder safety,” said Tony Eales, President and CEO of TriTech Software Systems. “Bain Capital has a long history of supporting technology and software companies in accelerating their growth. Their commitment to our vision underscores the strength of our differentiated products and the potential to further extend the range of public safety solutions we offer to serve our customers.”
“TriTech’s technology platforms and broad and innovative product portfolio are vital tools for public safety agencies and officers who are doing the mission-critical work that makes our communities safer and more engaged,” said Ian Loring, a Managing Director at Bain Capital Private Equity. “We are excited to partner with TriTech’s talented management team to drive continued growth, organically and through acquisitions, as we build upon their leading public safety platform and look to bring new solutions to market to meet evolving customer needs,” said Darren Abrahamson, a Managing Director at Bain Capital Private Equity.
Bain Capital Private Equity has deep experience in the technology sector, having made investments in a wide range of software companies including Applied Systems, BMC Software, MYOB, Skillsoft, SunGard Data Systems, Symantec, Viewpoint Construction Software, Vertafore, and Waystar.
“Since our investment in 2014, we have enjoyed partnering with TriTech to drive exceptional growth as the company has become a leader in public safety software,” said Richard Wells, a Managing Director at Insight Venture Partners, TriTech Software System’s current controlling stakeholder. “We wish the company and the management team well as they enter this next phase of scaling.”
The transaction is subject to customary closing conditions, including requisite regulatory approvals, and is expected to close during the second quarter of 2018.
William Blair & Company, LLC served as exclusive financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to TriTech Software Systems. Kirkland & Ellis LLP is serving as legal counsel, and PwC LLP is acting as accounting advisor to Bain Capital Private Equity.
About TriTech Software Systems
TriTech leads the way as the undisputed industry leader with software that covers every facet within the incident-response workflow, including 9-1-1, computer-aided dispatch, field-based reporting, records management, jail management, analytics and intelligence, patient care reporting, and ambulance billing software. Providing customers with unmatched satisfaction levels and delivering innovative solutions has made TriTech the most trusted partner in public safety software.
About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 220 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 19 offices on four continents. The firm has made primary or add-on investments in more than 760 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately $95 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.