TEMPLE, Texas — Professional Datasolutions Inc. (PDI) received a majority investment from TA Associates, a Boston-based private equity firm. Financial terms of the transaction were not disclosed.
Founded in 1983, Temple-based PDI provides enterprise resource planning (ERP) software solutions and related services intended to help convenience store retailers and wholesale petroleum marketers more effectively manage their businesses.
PDI’s core system, PDI/Enterprise, features multiple suites addressing a number of areas, including retail automation, supply chain management, business intelligence, financial reporting and workforce management.
According to TA Associates, its first goal is to accelerate PDI’s growth. “PDI is the leading provider of ERP software solutions to its target market in the U.S. and is particularly well-positioned with the very largest convenience store chains,” said Hythem T. El-Nazer, a managing director at TA Associates, who will join the PDI board of directors. “With a highly attractive recurring revenue model, a committed and loyal customer base, and an accomplished management team, PDI offers an exciting investment opportunity for TA. We are pleased to partner with PDI to accelerate the company’s strategic growth initiatives.”
Greg Gilkerson, founder and CEO of PDI, said he is delighted to welcome TA Associates to the company and board of directors. “TA has significant experience investing in the software sector and notable success in building additional value through accelerating organic growth and complementing it with strategic acquisitions,” Gilkerson said. “We anticipate a close collaboration with TA, leveraging their industry knowledge and global resources as we look to accelerate our growth.”
PDI has more than 330 customers in the United States, including Buc-ee’s, Pak-A-Sak, Vintners Distributors, Flyers Energy LLC, Holiday Stationstores Inc., Toot n’ Totum Food Stores Inc. and E-Z Stop Food Marts Inc.
“We believe partnering with TA will help us further PDI’s organic and inorganic growth within not only our core market, but also adjacencies,” said Scott Kingsfield, executive chairman of PDI. “TA’s strategic investment allows PDI to accelerate investments in products so that we can continue to provide world-class software and services to our customer base. We look forward to working closely with TA as we pursue these initiatives.”
Kirkland & Ellis LLP served as legal counsel to PDI. Weil, Gotshal & Manges LLP served as legal counsel to TA Associates.
TA Associates has invested in more than 460 companies worldwide and raised $24 billion in capital.