U.S. private equity firm Vista Equity Partners said it will invest additional capital in Lone Wolf Real Estate Technologies Inc, a Cambridge, Ontario-based residential real estate software company. No financial terms were released. Vista, which has backed Lone Wolf since March 2015, plans to support the company as it expands its offerings and customer base. The statement was made concurrently with Lone Wolf’s appointment of Patrick Arkeveld as its new CEO, replacing Lorne Wallace, the company’s founder. Earlier this year, Lone Wolf acquired WhereToLive.com Inc.
Lone Wolf Real Estate Technologies Appoints New CEO and Executive Chairman
Leader in real estate technologies names new leader in preparation for further growth and expansion
CAMBRIDGE, Ontario–(BUSINESS WIRE)–Lone Wolf Real Estate Technologies Inc. (“Lone Wolf”), the North American leader in residential real estate software and services, today announced that it has appointed Patrick Arkeveld as its new Chief Executive Officer. Lorne Wallace, founder and former CEO of Lone Wolf, will assume an active role as Executive Chairman, focusing on strategic growth opportunities, industry engagement, and long-term corporate vision. Vista Equity Partners, a leading private equity firm and an investor in Lone Wolf, is making additional investments in the business to fuel product development, increase sales, and cultivate customer success.
Arkeveld served as President of Lone Wolf for the past year, working to ensure a solid infrastructure and foundation for future expansion. Arkeveld transformed Lone Wolf’s talent acquisition strategy, championed business systems and best practices to drive analytical rigor to the company’s go-to-market approach, and formalized the product management function to increase market-driven focus.
“I am very proud of how far we have come, and I’m excited for our next chapter of growth under Patrick’s leadership,” said Lorne Wallace, Executive Chairman of Lone Wolf. “Patrick brings a wealth of operational knowledge in the software industry, and I look forward to working with him and the entire leadership team as we continue to serve our customers.”
Arkeveld brought a vast set of experiences in the technology sector to Lone Wolf. Prior to joining, he served as the President of Jonas Construction Group, a division of Constellation Software, one of Canada’s top software companies and a prominent international provider of enterprise management software and solutions. During his time at Jonas Software, Patrick held a number of operational roles, which included spending time in the UK as the Managing Director of International Operations, responsible for growing the Jonas brand in Europe, the Middle East and Africa.
“By combining Lone Wolf’s market presence and product expertise with Vista’s increased investment and support, we are helping to shape the future of real estate, and that’s very exciting,” said Patrick Arkeveld, CEO of Lone Wolf. “Our clients always will remain our top priority as we continue to drive innovative solutions, invest in our own infrastructure to improve our ability to serve our customers, and extend our reach across North America in order to better serve the evolving needs of real estate professionals.”
Vista Equity Partners is investing additional capital to fund Lone Wolf as it continues to expand its offerings and customer base. Vista—a leading private equity firm with focused investments in software, data, and technology enabled companies—partners closely with management teams and provides multilevel support to help companies reach their full potential.
“Already a market leader, Lone Wolf is in a great position to build its market presence through innovative products and exceptional customer service, and we look forward to continuing and strengthening our partnership with the leadership team,” said Alan Cline, Principal at Vista Equity Partners. “Lorne has built a very strong business, and we are thankful that he will continue to play an active role. Patrick is an exceptional leader, and we look forward to working with him as he guides the company into its next phase of growth.”
About Lone Wolf
Lone Wolf Real Estate Technologies Inc. is the North American leader in real estate solutions and services with 10,000 offices and over 250,000 agents utilizing their fully integrated product lines. Lone Wolf’s experience and unmatched knowledge of the industry has provided a unique opportunity to develop the Complete Enterprise Solution. The Complete Enterprise Solution is a fully integrated product line comprised of back office, front office and web-based software providing a single point of data entry, improved efficiency and additional opportunities to identify revenue for real estate professionals. The Complete Enterprise Solution also integrates with partner solutions to create an eco-system of brokerage operations that enable brokerages and agents to operate more efficiently and increase opportunities for profitability. Lone Wolf has offices in Cambridge, ON, Langley, BC, Mississauga, ON, Las Vegas, NV, Show Low, AZ, Atlanta, GA, and Tallahassee, FL. For more information, please visit www.lwolf.com.
About Vista Equity Partners
Vista, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with more than $25 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.
Kate Annis, 1-866-CRY-WOLF(279-9653)
VP of Marketing
Photo courtesy of Lone Wolf Real Estate Technologies Inc