Untitled Document
Home Blogs Content Reader Links Books Directory Tutorials Newsletter Events Jobs Community

March 13, 2008

Triton Pacific Acquires Majority Interest in Leading Integrated EAM Firm, AssetPoint, LLC

Private Equity Firm Continues Proven Track Record With Latest Addition to Software IT Portfolio

LOS ANGELES, CA--(Marketwire - March 12, 2008) - Private equity group Triton Pacific Capital Partners, LLC today announced that it has acquired a majority interest in AssetPoint, a leading provider of integrated Enterprise Asset Management (EAM) and Computerized Maintenance Management Software (CMMS).

This latest acquisition continues the successful investment strategy Triton Pacific has carried out since its inception in 2001 of identifying and guiding successful entrepreneurial firms to their full market potential. With a combination of capital, strategic guidance and operational expertise, Triton Pacific effectively partners with entrepreneurial companies to build more valuable businesses.

“AssetPoint is a perfect fit for our software market focus and becomes the third enterprise software company in our portfolio. Each has an established market niche and high value growth opportunities,” said Triton Pacific’s Fred Thiel, managing partner, software and IT group. “We have been very impressed with the management and underlying strategy of the company and look forward to working with AssetPoint to expand its market opportunities and success.”

A spin-off of Fluor Corporation, AssetPoint has strong roots in developing and delivering software and services that improve profitability and productivity for the process and manufacturing industries. AssetPoint’s flagship product, TabWare EFx, is an EAM/CMMS application routinely accessed by tens of thousands of users to manage billions of dollars in critical plant and facility assets worldwide. AssetPoint is recognized by industry analysts as one of the top suppliers of EAM solutions available today.

“Triton Pacific Capital Partners has an impressive investment track record and brings more than capital to the table. Their operational expertise and resources are key assets for building successful companies,” noted Harrell Waldrop, AssetPoint’s president and general manager. “We have developed a ‘best of breed’ solution with our TabWare software and by partnering with Triton Pacific we can begin to really leverage the depth of our product expertise for optimal growth.”

Vince Carrozzi, executive vice president of AssetPoint, added, “Our team is poised for the future, our sales and marketing team will expand to drive revenue growth and our product team will expand to take on new product enhancements and technology advances.”

According to Houghton LeRoy of ARC Advisory Group, “This investment by Triton Pacific into AssetPoint should provide the means for continued growth and product development to further solidify their position in the EAM/CMMS market as an important ‘Best of Breed’ supplier with a good value proposition.” Founded in 1986, ARC Advisory Group is the leading research and advisory firm for manufacturing and supply chain solutions.

AssetPoint recently announced full integration with the Microsoft Dynamics GP Enterprise Resource Planning (ERP) solution. In 2006 AssetPoint achieved Gold Certification in Microsoft’s Partner Program and is now the preferred EAM vendor for clients on a Microsoft platform.

“We witnessed early on the innovative approach that AssetPoint was taking in delivering solutions to its core market segments. AssetPoint was one of the first EAM vendors to offer customers a Software-as-a-Service (SaaS) hosted model for rapid, reliable real-time software deployment,” said Thiel. “SaaS is one of the fastest growing segments of the information technology (IT) industry and we believe that AssetPoint is well positioned to leverage this fantastic growth opportunity.”

About AssetPoint, LLC

Established in 2002 as a spin-off from Fluor Corp., a major engineering, construction and maintenance firm, AssetPoint has a legacy of over 25 years in delivering Integrated Enterprise Asset Management/Computerized Maintenance Management Software (EAM/CMMS) and services that improve profitability and productivity for the process manufacturing and facilities industries. Thousands of users manage billions of dollars every day in critical plant and facility assets worldwide using TabWare. The scalable software solution is delivered as an onsite option, as a Software as a Services (SaaS) option, or a as a fully secure, Web-based solution. For more information see http://www.assetpoint.com

About Triton Pacific

Founded in 2001, Triton Pacific Capital Partners, LLC, with headquarters in Los Angeles, California, is a well established private equity firm that invests in entrepreneurial small and mid-size companies with strong growth prospects. Targeting “below the radar” companies, Triton Pacific seeks to partner with management of established, profitable companies too small to attract alternative sources of capital. Through its Value Enhancement Program(SM), Triton Pacific employs its time-tested business model in conjunction with a well-developed arsenal of proprietary in-house resources. The firm is able to offer its portfolio companies growth capital, strategic guidance, and operational expertise designed to enable companies to professionalize these businesses with the ultimate goal of creating more revenues, profits and enterprise value. Today, Triton Pacific maintains a majority investment in 14 private equity companies with an enterprise value of $150 million at the time of their acquisition. More information can be found at www.tritonpacific.com

Go Back