PDI Announces Strategic Investment by Genstar Capital to Fuel Global Growth

28 Aug

PDI, a leading global provider of enterprise-class software solutions to the convenience retail and wholesale petroleum and logistics industries, has announced that it has entered into a strategic partnership with Genstar Capital (www.gencap.com), a leading private equity firm based in San Francisco. TA Associates (www.ta.com), which invested in PDI in 2016, will continue as a significant shareholder.

A strategic partnership with Genstar and TA Associates is expected to accelerate PDI’s transformation into a global leader in the convenience retail and wholesale petroleum and logistics industries. This partnership builds on PDI’s 30-year heritage and its mission to put customers first and provide them with leading software solutions, technologies and services to help them thrive in the digital economy.

“Genstar is an experienced software investor with a long-term perspective that will help PDI continue to deliver for our customers, innovate our software portfolio, provide world-class global service, and focus on new untapped markets,” said Jimmy Frangis, chief executive officer, PDI. “We believe that our strategic partnership with Genstar and TA Associates supports and builds on our mission to be a trusted partner and advisor for our customers, addressing their ongoing and evolving enterprise software and services needs. This investment is a strong vote of confidence in PDI’s long-term strategy and future growth potential, and we look forward to working with our partners to continue to strengthen and broaden our market footprint.”

“Genstar focuses on identifying market leaders in the software sector and we believe that PDI has established an unmatched presence in the market for more than 30 years,” said Eli Weiss, managing director, Genstar Capital. “We are confident that the breadth of PDI’s current portfolio along with the potential for expanding its existing services and software offerings will bring a new level of experience to the industries and the customers it serves. Our added capital and resources in partnership with TA Associates will provide PDI with the means to further develop their technology and allow for strategic add-on acquisitions that we believe will meet the needs of a rapidly changing market. We look forward to working with the PDI management team and TA to help accelerate the company’s growth.”

“Since beginning our partnership with the PDI management team in May 2016, PDI has successfully executed against its growth strategy, rapidly accelerating topline revenue growth, delivering significant levels of product innovation and deepening its presence in international markets,” said Hythem T. El-Nazer, managing director, TA Associates. “We are delighted to partner with Genstar to continue to build upon the strong foundation that we believe exists at PDI to deliver superior service, support and innovation to customers and the marketplace. PDI has accomplished a great deal in the last 15 months, and we believe that its future is bright.”

Added Mr. Frangis, “PDI has helped customers thrive in today’s digital economy with innovative software so they can run their business better. Our customers trust our people and our company because of our deep knowledge of the industry and of their business. PDI’s customers are truly the cornerstone of our success, and we look forward to the support of our strategic investors in helping us continue to serve our customers and to provide them with unprecedented value.”

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