LOS ANGELES, January 1, 2016 – Triton Pacific Capital Partners, LLC has announced that its portfolio company, AssetPoint, LLC, a leading provider of Computerized Maintenance Management Software / Enterprise Asset Management (CMMS / EAM) solutions, has been acquired by Aptean, an Atlanta-based provider of industry-focused mission critical enterprise software solutions.
During its ownership, Triton Pacific applied its Value Enhancement Program(SM) to further professionalize the AssetPoint business. This time-tested business model, in conjunction with the firm's operating expertise, helped AssetPoint enhance its solutions offering, expand into new markets and accelerate growth in order to maximize value.
“We achieved our strategic plan of positioning AssetPoint to be valued by a strategic buyer that is best-positioned to leverage the Company's blue-chip customer base and product leadership within the CMMS/EAM market and are pleased to have Aptean recognize the value created in AssetPoint," said Craig J. Faggen, CEO of Triton Pacific. “Aptean is in an excellent position, with the addition of AssetPoint, to further extend their ERP software suite, enabling Aptean to offer additional best-in-class solutions to customers.”
For more than 30 years, AssetPoint (www.assetpoint.com) has been a leading provider of CMMS / EAM solutions helping customers control their operations, reduce maintenance costs, optimize spare parts inventory, streamline procurement and provide greater visibility for improved management, command and control over their assets. Designed by maintenance professionals for maintenance professionals, the TabWare platform is easy to learn, easy to use and has helped tens of thousands of users manage their critical assets. AssetPoint’s customers include leading Food & Beverage, Oil & Gas, Chemical, Mining & Metals, Industrial Manufacturing and a variety of other companies throughout the world. AssetPoint is headquartered in Greenville, SC
“As a part of Aptean, we will be well positioned to provide more comprehensive and seamless enterprise software solutions to our customers by capitalizing onAptean’s large-scale research and development capabilities, as well as their experience delivering technologically superior products to market,” said Mike Levine, President and CEO of AssetPoint. “We look forward to joining the Aptean team, leveraging their leadership and expertise and continuing tobring relevant and trusted software solutions to customers globally.”
Triton Pacific’s investors have received distributions over the life of the investment and will receive additional proceeds from the sale. During Triton Pacific’s ownership period, AssetPoint increased in value by more than 1.5 times. Pacific Crest Securities served as exclusive financial advisor to AssetPoint.
About Aptean
Aptean is a leading provider of industry-focused mission critical enterprise software solutions. We build and acquire solutions to support the evolving operational needs of our customers. Our solutions help nearly 5,000 organizations stay at the forefront of their industries by satisfying their customers and continuing to operate more efficiently. For more information, visit www.aptean.com.
About Triton Pacific
Triton Pacific Capital Partners, LLC, founded in 2001, is a private equity firm that invests in middle-market companies in high growth or rapidly changing industries. Headquartered in Los Angeles, California, Triton Pacific currently manages four private equity funds and is the sponsor of Triton Pacific Investment Corporation, a non-traded public private equity fund. For more information, visit www.tritonpacific.com.