Insight Venture Partners joins Genstar and TA Associates in backing PDI to help expand its global reach and solution portfolio.
ATLANTA, March 20, 2019 – PDI, a leading global provider of enterprise software solutions to the convenience retail, wholesale petroleum and logistics industries, announced today an investment by Insight Venture Partners (Insight) to support the company’s continued global growth. Insight Venture Partners joins Genstar and TA Associates, who will both retain minority stakes in PDI.
Insight is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has invested in more than 300 companies worldwide, working with visionary executives to provide practical, hands-on growth expertise to foster long-term success.
“Insight is an experienced investor with a long-term perspective that will help PDI continue to meet the growing and changing needs of our customers, innovate our software portfolio, and provide world-class global service. We believe the added capital and resources provided by Insight, in addition to the ongoing support and confidence from Genstar and TA Associates, will further the development of our advanced software portfolio and allow for strategic add-on acquisitions that we are confident will meet the needs of a rapidly changing market,” said Jimmy Frangis, CEO, PDI.
“This investment is a strong vote of confidence in PDI’s long-term strategy and future growth potential, and we’re thrilled to welcome the team to our portfolio,” said Deven Parekh, Managing Director, Insight Venture Partners. “PDI’s 35-year heritage of putting customers first and providing leading software solutions, technologies, and services to help them thrive in the digital economy created a strong interest in the company and was an immediate draw for us. We look forward to working with the management team, Genstar and TA Associates to continue strengthening and broadening PDI’s market footprint.”
“Throughout our partnership with PDI’s management team, PDI has successfully executed against its growth strategy through organic initiatives and accretive acquisitions, expanding its software offerings and global reach,” said Eli Weiss, Managing Director, Genstar Capital, and Hythem El-Nazer, Managing Director, TA Associates. “We are pleased to partner with Insight to continue to drive PDI’s growth and unwavering focus on software innovation that will bring a new level of experience to the customers and industries it serves.”
Added, Frangis, “PDI’s customers are truly the cornerstone of our success. This new relationship with Insight supports our objective to be a trusted partner and advisor for our customers, bring together the most innovative and advanced technologies and develop the strongest team with unprecedented industry experience.”
Lazard served as financial advisor and Irell & Manella as lead legal counsel to PDI. Additional terms of the deal were not disclosed.
PDI helps convenience retailers and petroleum wholesalers thrive through digital transformation and enterprise software that enables them to grow topline revenue, optimize operations and unify their business across the entire value chain. Over 1,500 customers in more than 200,000 locations worldwide count on our leading ERP, logistics, fuel pricing and marketing cloud solutions to provide insights that increase volume, margin and customer loyalty. For more than 35 years, our comprehensive suite of solutions and unmatched expertise have helped customers reimagine their enterprise and deliver exceptional customer experiences. For more information about PDI, visit www.pdisoftware.com.
Insight Venture Partners is a leading global venture capital and private equity firm investing in high- growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments,
visit www.insightpartners.com.
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 30 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $17 billion and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services
– TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
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