Gauge Capital has agreed to sell Irth Solutions to Blackstone Energy Partners. No financial terms were disclosed. Based in Columbus, Ohio, Irth Soutions is a multi-tenant software-as-a-service platform.
Southlake, TX – Gauge Capital, LLC (“Gauge”), a leading middle market private equity firm, has announced that it has entered into a definitive purchase agreement to sell Irth Solutions (“Irth”) to Blackstone Energy Partners. The transaction is expected to close prior to year-end.
Headquartered in Columbus, Ohio, Irth Solutions is a multi-tenant, software-as-a-service (“SaaS”) platform that provides damage prevention, asset protection, and risk management solutions to owners and operators of critical network infrastructure such as electric and gas lines, fiber optic cabling, and pipelines.
“We invested in Irth Solutions believing it provided the best-in-class solution for 811 ticket management and could leverage its modern platform, experienced development team, and customer relationships to create additional damage prevention solutions,” said Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital.
“We are excited about the outcome of this transaction, which we believe is great for our current shareholders while also providing an exciting opportunity for our new sponsor, Blackstone,” said Brad Gammons, Chief Executive Officer of Irth. “We’re excited about the opportunity to expand upon what we’ve built and broaden the set of solutions we can offer to our customers.”
Lazard and Lincoln International acted as financial advisors to Irth. Ropes & Gray acted as the company’s legal advisor.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. Gauge invests in five key sectors: healthcare, technology, business services, government & industrial services, and food & consumer. The firm manages approximately $2.5 billion in capital and in 2020 and 2021, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021, Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. For more information, please contact Andrew Peix, Managing Director of Business Development at firstname.lastname@example.org.
About Irth Solutions (https://www.irthsolutions.com/)
Irth Solutions, headquartered in Columbus, Ohio, is the leading provider of cloud-based asset protection solutions to improve resilience of critical asset infrastructure, including their flagship 811 ticket management solution. Clients have trusted Irth Solutions for decades to manage and reduce risk, decrease costs, increase revenue opportunities and ensure regulatory compliance. Artificial intelligence and analytics power additional insights for early detection of emerging problems. Irth Solutions has helped hundreds of customers execute the work that is most important to their success i