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Monday, July 20, 2015 – Columbus, OH – irth Solutions today announced a significant investment from Bregal Sagemount, a growth-focused private equity firm, aimed at supporting the company’s continued expansion.
irth Solutions is a market leading provider of field service management solutions to the utility, energy and telecom industries, serving large national brands across the country. The company has continued to experience accelerating annual growth for several years by continuing to increase the value and capabilities of their mobile field workforce management solutions.
G. Brent Bishop, President and CEO at irth Solutions, explains, “We continue to see increased demand for our software and solutions as our customers continue to seek operational efficiencies.” The opportunity to better manage data, automate processes, and improve reporting, allows organizations to gain new levels of productivity, compliance, safety, and asset performance. “We serve more than 300 national customers across our market, including leading national organizations like PG&E, Marathon, and Verizon,” Bishop added.
“irth Solutions’ innovations in delivering mobility, data management, process automation, and analytics, through a software-as-a-service (SaaS) model, are having dramatic impacts on their customer’s operations,” added Gene Yoon, Managing Partner at Bregal Sagemount. “With more than 80% of utility, energy and telecom organizations actively investing in enterprise mobility solutions, irth Solutions is poised to respond to new operational needs from their customers. We are enthusiastic about partnering with irth Solutions to help drive future growth and market expansion,” Yoon concluded.
Mr. Yoon, Blair Greenberg, and Curt Witte from Bregal Sagemount will join irth Solutions’ Board of Directors. Previous stake-holders Crane Group, GBB Holdings, and Main Street Capital will remain investors.
Vaquero Capital LLC served as financial advisor to irth Solutions. Terms of the deal were not disclosed.
About irth Solutions
irth Solutions is the leading provider of field service management solutions that help increase the productivity of our customers’ field workforce teams while maximizing the performance of their company’s mission-critical assets. For more information please visit www.irthsolutions.com.
About Bregal Sagemount
Bregal Sagemount (www.sagemount.com) is a growth-focused private capital firm with $650 million in committed capital. The firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $15 million to $150 million per transaction into targeted sectors including software, digital infrastructure, healthcare IT / services, business and consumer services, and financial technology / specialty finance.
SOURCE: PE Hub