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FM:Systems Secures Growth Equity Investment from Accel-KKR
RALEIGH, N.C., Feb. 2, 2017 /PRNewswire/ -- FM:Systems, a leading provider of Integrated Workplace Management Systems (IWMS) and Computer-Aided Facility Management (CAFM) software, today announced it has secured a substantial investment from Accel-KKR, a leading technology-focused private equity firm. The investment will provide capital and resources to significantly accelerate product innovation, growth in new and existing markets and service offerings to support an expanding international client base and rapidly evolving market.
FM:Systems' over 300 blue-chip customer base spans six continents and a diverse range of industries, including healthcare, higher education, technology, manufacturing, retail, banking and the public sector.
"FM:Systems has experienced rapid growth over the past few years and was looking for an experienced software investor as a partner for its next stage of growth. We are excited about the market opportunity we see in front of us and are pleased to have a partner like AKKR to help us pursue it," said Michael Schley, Founder and CEO of FM:Systems.
Schley explained, "By partnering with Accel-KKR, FM:Systems will have the opportunity to leverage new resources to continue growing its leadership position in the IWMS Marketplace – providing flexible, easier and more powerful solutions at the speed the market needs them."
"The FM:Systems team has built an outstanding business," said Rob Palumbo, Managing Director at Accel-KKR. "The team, their customers and the technology platform are world class. We are excited about partnering with FM:Systems to continue supporting the team as they strengthen their solutions and provide even greater value to their customers."
"This is an exciting development in FM:Systems evolution, and in the evolution of IWMS technology," said Schley. "Our management team and staff are looking forward to the future possibilities that this partnership will open to us."
FM:Systems will continue to operate out of its headquarters office in Raleigh, North Carolina.
Vaquero Capital LLC acted as exclusive advisor to FM:Systems in connection with the transaction.
About FM:Systems, Inc.
FM:Systems helps facilities and real-estate professionals improve customer service, reduce costs and increase productivity enterprise-wide. FM:Systems' Web-based software improves management of space, occupancy, moves, maintenance, leases and property. FM:Systems is headquartered in Raleigh, North Carolina, and conducts business throughout the Americas, Africa, Europe and Asia Pacific. For more information about FM:Systems, please visit www.fmsystems.com or call 1-800-648-8030.
Accel-KKR is a technology-focused investment firm with $4.0 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline 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 and provides a broad range of capital solutions including credit, minority-growth investments, buyouts, divisional carve-outs and going-private transactions. For more information, please visit our website via the link below.
FM:Systems: Brian Haines
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