Charlesbank Capital Partners has acquired Abilene, Texas-based WolfePak Software, a provider of enterprise resource planning, operational and regulatory compliance software to the oil and gas industry. No financial terms were disclosed. Aeris Partners served as adviser to WolfePak on the deal with Goodwin providing legal advice to Charlesbank.
Boston, MA, October 17, 2019 – Charlesbank Capital Partners today announced that its managed fund, Charlesbank Technology Opportunities Fund, has acquired WolfePak Software. This marks the first investment for Charlesbank’s new technology-focused fund. Financial terms of the transaction were not disclosed.
Headquartered in Abilene, TX, WolfePak is a leading provider of enterprise resource planning, operational and regulatory compliance software to 1,900 customers in the oil and gas industry, including oil and gas operators, midstream companies and mineral rights investors. Between 2016 and Charlesbank’s acquisition, the company was owned by Fort Point Capital, which helped to transform the company from a founder-owned business into a well-recognized leader and platform for consolidation in the specialized energy sector.
“We are thrilled to make our first acquisition for Charlesbank’s Technology Opportunities Fund,” said Hiren Mankodi, Managing Director at Charlesbank. “The company has a talented senior leadership team with a proven track record and decades of deep software experience. We look forward to working with them to build on WolfePak’s strong industry position and to accelerate the Company’s growth plans in new and existing markets.”
“Fort Point Capital has been an outstanding partner for WolfePak. They invested behind the creation of a sales and marketing engine to drive organic growth, introduced new product modules and spearheaded the build-out of our management team, enabling accelerated growth and the scalability of the business. They also provided excellent M&A support, enabling us to complete two strategic acquisitions over the past two years. I am thankful for their partnership in our effort to provide a best in class suite of software to the oil and gas industry, and I am excited for our next chapter with Charlesbank,” said Brent Rhymes, CEO of WolfePak.
Christina Pai, Partner at Fort Point Capital and Chairperson of the WolfePak Board, said, “WolfePak has been an exciting and successful investment for Fort Point Capital, and we are very proud of our partnership with the company. Under our ownership, WolfePak has grown significantly, both organically and through acquisition, and is well-positioned for the future. We are grateful for the efforts of Brent Rhymes, Karen Massey, Bill Hobbs, Zeb Hardy and the rest of the WolfePak management team and employees. We look forward to watching the company continue to grow and thrive with its new partner.”
Mayur Desai, Principal at Charlesbank, added, “We have been impressed with the reputation that WolfePak has built over decades for providing highly-quality solutions, seamless integration and excellent customer support. We look forward to partnering with the leadership team to build on this legacy.”
Aeris Partners served as exclusive advisor to WolfePak in connection with this transaction, and Goodwin served as legal advisor to Charlesbank.
ABOUT CHARLESBANK CAPITAL PARTNERS
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
ABOUT FORT POINT CAPITAL
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, business services companies in partnership with strong management teams. Fort Point Capital is currently investing from FPC Small Cap Fund II. For additional information, please contact Fort Point at (617) 303-2121 or visit www.fortpointcapital.com.