Pamlico Capital said July 24 that it closed the sale of portfolio company Dexter & Chaney LLC to Viewpoint Construction Software. Financial terms weren’t announced. Dexter & Chaney, of Seattle, provides financial and operational management software for construction contractors. Aeris Partners provided financial advice while Troutman Sanders LLP acted as the attorney.
Charlotte, NC, July 24, 2017 – Pamlico Capital (“Pamlico”), a leading middle market private equity firm focused on growth oriented businesses, has closed the previously announced sale of its portfolio company Dexter & Chaney, LLC (“Dexter + Chaney”) to Viewpoint Construction Software (“Viewpoint”). Terms of the transaction were not disclosed.
Headquartered in Seattle, Washington and founded in 1981, Dexter + Chaney is a leading provider of financial and operational management software for construction contractors. The Company’s product, Spectrum® Construction Software, is an integral component of daily operations for more than 1,100 contractors. Pamlico acquired Dexter + Chaney in partnership with management in December 2014. Since that time, Pamlico has helped recruit a world-class management team, adding key executives including Brian Rice (Chief Financial Officer), Eric Newton (SVP of Sales and Marketing), and Scott Rosenbloom (VP Strategy), and has assisted the team with accelerating growth through various strategic initiatives, including investments in product development and sales and marketing.
“After spending 35 years in business with no external funding, we feel very fortunate to have chosen Pamlico as our first investor. Their insights, strategic guidance, and support have helped us achieve fantastic growth over the last few years,” said Dexter + Chaney founder and Executive Chairman John Chaney. Norbert Orth, President and CEO, added, “Pamlico’s partnership allowed us to achieve our strategic growth initiatives around increasing market share and extending product leadership. We are grateful for our partnership and are now excited to be joining Viewpoint to further expand our capabilities for our valued customers.”
Walker Simmons, Partner at Pamlico, said, “We really enjoyed working with John Chaney, Norbert Orth, and the entire Dexter + Chaney team. They are talented operators and we are thankful to have had the opportunity to help them achieve their vision for Dexter + Chaney.” Pamlico Partner Eric Wilkins added, “Our investment thesis in the construction technology space led us to Dexter + Chaney. This transaction validates the strength of the Spectrum® Construction Software product and the hard work by the entire Dexter + Chaney team, who we thank for their efforts on behalf of Pamlico and wish continued success as part of Viewpoint.” Dexter + Chaney and Pamlico were advised by Aeris Partners (financial advisor) and Troutman Sanders LLP (legal advisor). About Dexter + Chaney Dexter + Chaney is a provider of cloud-based construction ERP software. From the office to the field, and from accounting to project management, Dexter + Chaney has been providing complete construction management software for more than 35 years. Dexter + Chaney serves more than 1,100 contractors across all construction segments, including heavy/highway and utility, general contractors, electrical, mechanical, and specialty subcontractors, and across all sizes, from locally owned subcontractors to some of the world’s largest construction firms. Dexter + Chaney’s web-based software applications allow customers to get work done anywhere using any device with a web browser and without the need to download any software. For more information, please visit www.dexterchaney.com.
About Pamlico Capital Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity and buyout investments of up to $100 million alongside proven management teams in its target industries: Business & Technology Services, Communications, and Healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $2.5 billion. For additional information, please visit www.pamlicocapital.com. About Viewpoint Viewpoint is a global provider of innovative construction-specific software solutions and services for the AEC and asset owner markets. Viewpoint’s comprehensive solution suite addresses the needs of the office, extended project team and field for improved visibility, accuracy and control. Viewpoint solutions cover the full project lifecycle, from preconstruction to construction and facilities maintenance. Viewpoint’s products are web and mobile ready and are offered in Cloud or On Premises deployment options. Headquartered in Portland, Oregon, USA, and with offices in the UK and Australia, Viewpoint has become the technology partner of choice, with customers located across the globe in more than 28 countries. For more information, please visit www.viewpoint.com.