DGAP-News: On Center Software Announces Strategic Equity Partnership With Accel-KKR
(firmenpresse) - On Center Software, Inc.
23.10.2013 22:30
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THE WOODLANDS, Texas, 2013-10-23 22:30 CEST (GLOBE NEWSWIRE) --
On Center Software, the first name in construction automation, today announced
that Accel-KKR has made an investment in the company to accelerate its growth.
Terms of the investment were not disclosed.
'As a technology-focused private equity firm, Accel-KKR believes there is
substantial opportunity for expansion in software and services in the
construction industry,' stated Rob Palumbo, Managing Director at Accel-KKR.
'When selecting companies to invest in, Accel-KKR considers a number of factors
including the depth and strength of an organization's customers, its
technology, and its employees. On Center excels above others in the market.'
The investment will help facilitate the company's ongoing market growth and
broaden its portfolio offering of solutions within the lifecycle of
construction automation. On Center Software's focus is on driving accuracy and
profitable results for clients. The company's employees lead the industry in
software innovation, customer support, and client education.
'For almost 25 years, On Center Software has continued to make the success of
our customers our primary business,' stated On Center CEO, Cecilia Padilla. 'We
are excited to be working with Accel-KKR to further expand our offering and
continue driving more value to our clients. This partnership validates our
strategy and future development expansion. On Center and Accel-KKR share the
same optimism and confidence in the construction industry, contractors, and our
employees.'
On Center Software's current portfolio includes solutions from measurement to
estimating to project tracking. Quick Bid(r) set the standard in 1988 enabling
contractors to easily, accurately, and consistently increase project win rates
and profit margins. On-Screen Takeoff(r) started the electronic measurement
market in 1994 scaling to support small contractors and global construction
enterprises. In 2008, On Center introduced its patented technology, Digital
Production Control(tm), to help construction entities act on threats to bottom
line profitability.
Whitehawk Advisory served as exclusive financial advisor to On Center Software
in connection with the transaction.
On Center Software, The First Name in Construction Automation
On Center Software, Inc. is a privately held company providing software and
training to construction industry professionals for over 24 years. Located in
The Woodlands, Texas, the company's mission is to transform the takeoff,
estimating, and labor-tracking experience with comprehensive software solutions
that turn winning bids into profitable projects. On Center Software solutions
include On-Screen Takeoff(r), Quick Bid, and Digital Production Control(tm).
Customers in the United States, Canada, Australia, New Zealand, United Kingdom,
South Africa, and 60 other countries around the world leverage On Center
Software's internationally recognized solutions. For more information about On
Center Software, visit www.oncenter.com or call 1.800.880.8254.
About Accel-KKR
Accel-KKR is a technology-focused private equity firm with over $2.3 billion in
capital under management. The firm invests primarily in software and IT-enabled
businesses well positioned for top-line and bottom-line growth. At the core of
Accel-KKR's investment strategy is a commitment to developing strong
partnerships with the management teams of its portfolio companies and a focus
on building value through significant resources available through the Accel-KKR
network. Accel-KKR focuses on middle market companies, providing capital for
buyouts and growth investments across a range of opportunities including
recapitalizations, divisional carve-outs and going private transactions. For
more information, please visit www.accel-kkr.com.
For more information, contact:
On Center Software, Inc.
Marketing Department
1.800.880.8254
PR(at)oncenter.com
www.oncenter.com
News Source: NASDAQ OMX
23.10.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: On Center Software, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9902046203
WKN:
End of Announcement DGAP News-Service
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