Dude Solutions Gets Growth Investment from Warburg Pincus [Manufacturing Close - Up]
(Manufacturing Close - Up Via Acquire Media NewsEdge) Dude Solutions Inc., a cloud-based software-as-a-service (SaaS) provider of facility management solutions to several industries under the SchoolDude and FacilityDude brands, announced that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, has agreed to make a minority investment of growth capital and additional funds available for strategic acquisitions.
According to a release, the total commitment by Warburg Pincus is up to $100 million.
Dude Solutions provides facilities management solutions to school districts, community colleges, universities, governments, community organizations, healthcare and other commercial industries to manage and maintain their investments in facilities, equipment and IT infrastructure. During the past 14 years more than 8,000 clients have selected Dude Solutions software for facilities and IT management. The company enables their clients to streamline facility maintenance work order and IT help desk management, schedule preventive maintenance and plan for capital replacements, increase inventory accountability, maximize after-hours facility use and manage utility consumption through their suite of web-based applications.
"This investment is a testament to Dude Solutions' market leadership, service focus and vision for facilities management," said Kent Hudson, Chief Executive Officer and Co-Founder of Dude Solutions. "As we broaden our reach into facilities management and sectors where Warburg Pincus has deep domain knowledge, our clients will benefit as we continue to increase the value of our products and services."
"We chose to partner with Warburg Pincus in part because it appreciated how our entrepreneurial, innovative and industrious culture has enabled Dude Solutions to achieve its success to date," said Lee Prevost, Co-founder of Dude Solutions and President of SchoolDude. "With this new capital, we can do more of what we have been doing at even a faster pace."
"Dude Solutions has an impressive history of helping its clients save money, increase efficiency and improve services with their facility management solutions across a number of industries," said Alex Berzofsky, Managing Director, Warburg Pincus. "We are excited to work with the team as they continue to expand the SchoolDude and FacilityDude brands through organic growth and strategic acquisitions."
The company anticipates supporting its growth initiative by hiring sales, marketing and technology professionals.
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