San Francisco, CA - June 30, 2016 — Serent Capital, a leading San Francisco-based private equity firm focused on investing in growth technology and service businesses, today announced that its portfolio company Next Gear Solutions (Next Gear) has signed a definitive agreement to acquire ClientRunner. Both companies are leading providers of job management software to the construction restoration industry.
The acquisition will couple Next Gear's extensive and powerful feature set with ClientRunner’s intuitive user-interface, creating a combination that will better address the needs of a dynamic and enterprising industry. The combined business will be able to accelerate the pace of innovation through increased investment in product development and research. "Next Gear and ClientRunner are some of the most successful job management systems in the restoration market, and I believe that this acquisition will benefit our collective customers and the entire industry," said Garret Gray, CEO of Next Gear.
Serent initially invested in Next Gear in February 2016 based upon a thesis to back the market leader providing technologies, services, and efficiency to the growing and fragmented restoration market. "The combination of Next Gear and ClientRunner is highly complementary," said Serent Partner Lance Fenton. "We continue to believe that there are significant organic and acquisition-driven growth opportunities in the restoration market."
About Next Gear
Next Gear Solutions, Based in Oxford, MS, was formed in 2008 to address the lack of job and workflow management software solutions in the restoration industry and launched their first software, DASH, in 2009. Next Gear's software suite has grown to include franchise and insurance solutions as well as options for home and business owners with losses. Next Gear is passionate about their proven solutions for the restoration industry and their people and internal culture.
For more information on Next Gear, visit www.nextgearsolutions.com.
About Client Runner
ClientRunner, based in Orem, UT, services contractors focused on insurance restoration with a job management software designed for those who value simplicity. ClientRunner Began in 2003 as a solution for a single restoration contractor looking to support his company and move away from paper and the software was launched publicly in 2011.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive.
For more information on Serent Capital, visit www.serentcapital.com.
