Edmunds GovTech (“EGT”), a leading provider of ERP software solutions to local government, today announced a significant growth investment from TA Associates (“TA” or “the Firm”), a leading global private equity firm. LLR Partners (“LLR”), which originally partnered with EGT in 2018, will continue to be an investor in the Company.
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Founded in 1972 and headquartered in Northfield, New Jersey, EGT delivers an integrated suite of dynamic and easy-to-use software solutions to local governments and utility authorities across the United States. Its products and services are specifically tailored to meet municipality needs, with a focus on increasing efficiencies in the areas of financial accounting, budgeting, revenue collection, personnel management, and permitting & code enforcement. Today, over 2,100 municipalities and authorities across more than 20 states leverage EGT’s technology.
"For more than 50 years, EGT has maintained a customer-centric approach, focused on delivering high-quality products that empower local government digital transformation,” said Bob Edmunds, CEO and Executive Chairman at EGT. “I am confident that TA shares our culture, vision and commitment to excellence. Their partnership will enable us to continue our growth trajectory, further enhancing our ability to serve customers. I am excited to welcome TA to the EGT family.”
TA’s investment in EGT complements the Firm’s extensive experience scaling vertical market software businesses and founder-owned companies. The partnership will provide expansion capital and valuable guidance to EGT’s team, helping the Company to bolster innovation and expedite the completion schedules of several key projects.
“EGT has firmly established itself as a key player in the ERP software market, providing innovative solutions that enable local governments to streamline operations, increase productivity and put their citizens first,” said Ashutosh Agrawal, Managing Director at TA. “We see significant opportunities to build upon the Company’s strong product offering and look forward to working with Bob and LLR to accelerate geographic expansion and unlock expanded customer value.”
“During the first five years of our partnership, EGT has more than doubled its client base of local government agencies as the result of continuous innovation, organic growth and transformative acquisitions,” said David Reuter, partner at LLR Partners. “We look forward to working with Bob and the teams at both EGT and TA to help the company capitalize on its next growth opportunity.”
The financial terms of the investment were not disclosed.
About Edmunds GovTech
Edmunds GovTech (EGT) delivers Enterprise Resource Platform (ERP) software to more than 2,100 local governments across the United States. Edmunds provides an integrated suite of 26 different modules, including web portal & mobile app solutions. More information can be found at www.edmundsgovtech.com.
About LLR
LLR Partners is a private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $6 billion raised across seven funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at www.llrpartners.com and follow the firm on LinkedIn.
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries—technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
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Contacts
For TA:
Maggie Benoit
mbenoit@ta.com
For LLR:
Emily Godfrey
egodfrey@llrpartners.com
