Pamlico Capital has agreed to make an investment in TRG Screen, a provider of enterprise subscription management solutions. No financial terms were disclosed. As a result of the transaction, Polaris Partners will exit its stake in TRG Screen. SunTrust Robinson Humphrey provided financial advice to Polaris Partners and TRG Screen.
NEW YORK and CHARLOTTE, N.C., Nov. 7, 2018 /PRNewswire/ — TRG Screen, a leading provider of enterprise subscription management solutions, announced that it has entered into an agreement to receive an investment from affiliates of Pamlico Capital (“Pamlico”). Terms of the transaction were not disclosed.
With Pamlico’s backing, TRG Screen will accelerate its investment in its unique portfolio of spend and usage capabilities, adding new solutions that bring breadth and depth to the subscription lifecycle, and continuing expansion into new expense categories and client segments.
TRG is partnering with Pamlico at an exciting time. Following several years of very strong growth, plus the acquisition of Priory Solutions in 2016 and Screen Group earlier this year, the Company has built a large global client base and is the leading provider of spend and usage solutions to the financial, legal and professional services markets. This success has been built upon TRG’s product portfolio which provides the unique combination of comprehensive subscription spend capabilities, plus full transparency into usage, allowing TRG’s clients to truly optimize their spend.
“I could not be more excited to partner with Pamlico on this next stage of our growth journey,” says Steve Matthews, CEO of TRG Screen. “This is a very exciting time for our company. The subscription economy is creating a dramatic shift towards subscription-based services and at TRG Screen we are uniquely positioned to help our clients optimize their spend and usage across their full spectrum of subscription-based services including market data, software licenses and research spend. Pamlico’s commitment to support our growth will ensure that we can continue to deliver innovative solutions to our global client base.”
Pamlico Partner Walker Simmons and Vice President Jay Henry will join the TRG Screen Board of Directors and will work closely with the existing management team to continue to expand the company’s client base, product range, and industry coverage, while maintaining TRG’s reputation as the market leader in client satisfaction and customer retention.
“We are pleased to welcome TRG to the Pamlico family,” said Walker Simmons, Pamlico Partner. “Amidst a proliferation of online subscription spend, we believe management has built a formidable platform that is well positioned to accelerate growth and expand into adjacent markets. We look forward to driving additional core product innovation, while also expanding the existing offering to more broadly address spend management needs for TRG’s clients.”
As part of the transaction, outgoing investor Polaris Partners will divest their stake in the business after a successful investment cycle.
“Polaris Partners have been an incredible partner whose backing has been extremely important to our success and growth over the last four years,” says CEO Matthews. “While we’re sad to be leaving the Polaris family, we’re extremely excited by the opportunity to partner with Pamlico for the next phase of our journey.”
TRG Screen will maintain its headquarters in New York, NY, and international offices across Europe and Asia/Pacific, including the UK, Netherlands and Singapore.
SunTrust Robinson Humphrey acted as Exclusive Financial Advisor to Polaris Partners and TRG Screen.
About TRG Screen
TRG Screen (“TRG”) is the leading provider of software solutions used to monitor and manage subscription spend and usage across the entire enterprise. Founded in 1998, TRG is uniquely differentiated by its ability to monitor both spend and usage of data and information services including market data, research, software licenses, consulting and other corporate expenses. TRG’s solutions provide its customers with full transparency into their vendor relationships and their subscription spend and usage, enabling them to optimize their enterprise subscriptions. TRG acquired Priory Solutions in 2016 and Screen Group in 2018 and with these acquisitions is now positioned as the global market leader in the financial, legal and professional services markets. TRG’s product portfolio includes FITS and INFOmatch spend management, ResearchMonitor usage monitoring and Quest enquiry management solutions.
For more information visit www.trgscreen.com.
About Pamlico Capital
Pamlico Capital is a private equity firm founded in 1988 that primarily invests in growing middle-market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $125 million alongside founders and proven management teams in its target industries; business & technology services, communications, and healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $3 billion. For additional information, please visit http://www.pamlicocapital.com.