GAINESVILLE, Fla.--(BUSINESS WIRE)--Infotech®, a leader in infrastructure construction software solutions, announced today it was acquired by Diversis Capital Management, LP, a Los Angeles-based private equity firm focused on investing in software and technology-enabled services organizations.
Infotech was founded in 1977 and has served the infrastructure construction industry as a private company for nearly 50 years. With increased federal funding for infrastructure, leading technology providers are making significant investments to serve the growing demands for digital delivery. With Diversis, Infotech gains access to resources and expertise to accelerate product innovation that will benefit the tens of thousands of construction professionals who use AASHTOWare Project™ and Infotech’s comprehensive suite of bidding and construction management tools.
“We’ve been integral to construction management for almost 50 years through our work as the AASHTOWare Project contractor, serving as critical advisors to nearly all state departments of transportation, as well as local agencies and engineering firms across the country,” Tom Rothrock, Infotech Co-Founder said. “We’ve built a great company with great products and services, and Diversis will now help us accelerate our speed to market, enhance our solutions, and increase value to better serve current customers while also reaching a broader audience.”
Infotech will continue to be the official contractor for AASHTOWare Project and recently signed its 40th consecutive annual contract with AASHTO. Additionally, Will McClave will remain as Infotech CEO.
“Diversis is excited to enter the rapidly growing infrastructure construction technology space and believe with Infotech we have found the perfect partner,” said Kevin Ma, Co-Founder and Managing Partner of Diversis. “Building on Infotech’s long-standing mission critical role in infrastructure construction, while leveraging our experience in project management software, tools for front line workers, and technology solutions serving state and federal government, we’re excited to partner with Will and his team to continue to support the needs of AASHTO and its member agencies and drive product innovations that benefit all stakeholders in this foundational industry.”
Diversis has a strong track record partnering with founder-run companies to help scale and extend market leadership. The Diversis team also has extensive experience in the government technology space, having invested in multiple software businesses that serve state and local governments.
"Today is a monumental day for Infotech and our customers, and we look forward to supporting our users with the same relationship-focused mindset we have always prioritized,” Will McClave added. "As we enter the next generation of Infotech, Diversis will provide the strategic expertise and capital needed to take our products to the next level - and faster, and we are incredibly excited about what is to come.”
Union Square Advisors LLC served as exclusive financial advisor and Driver, McAfee, Hawthorne & Diebenow served as legal counsel to Infotech for the transaction.
About Infotech
Info Tech Operating LLC, DBA Infotech (Infotech) is a leading SaaS solutions provider for the infrastructure construction industry. Informed by DOT relationships and decades of experience, Infotech develops software solutions that bridge the gaps between owners, consultants, contractors, and other project stakeholders. Whether it be tools for construction administration and inspection or secure online bidding, Infotech’s solutions are built to increase transparency, productivity, and the availability of data. Infotech is the developer of Appia®, Bid Express®, and Doc Express®, as well as the official contractor for AASHTOWare Project™. For more information on our SaaS offerings, visit infotechinc.com.
About Diversis Capital Management, LP
Founded in 2013, Diversis Capital Management, LP is a software and technology focused private equity fund that invests in lower middle-market companies, targeting situations where it can add unique value in helping a company reach the next level. With a collaborative approach to investing, its Operating Partners and Strategic Advisors work alongside management teams to help build successful organizations positioned for long-term growth. To learn more, visit www.diversis.com.
