Conservice, a leading provider of utility management software and billing solutions to property owners and managers, announced the close of a significant strategic investment by Advent International (“Advent”), one of the largest and most experienced global private equity investors. The investment was first announced on March 16, 2020.
“With the support of Advent and TA, we believe Conservice is well-positioned to build on our strengths and continue delivering superior service to our customers at a time when contingency and expense management matter most”
With the close of this investment, Advent joins global growth private equity firm TA Associates as an institutional shareholder in the company, in which TA first invested in 2016. Conservice management will remain investors in the company, with Founder and CEO David Jenkins remaining the largest non-institutional investor. Financial terms of the transaction were not disclosed.
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“With the support of Advent and TA, we believe Conservice is well-positioned to build on our strengths and continue delivering superior service to our customers at a time when contingency and expense management matter most,” said David Jenkins, Founder and CEO of Conservice. “Together, we plan to drive further momentum in a highly fragmented market and execute on our substantial organic and acquisitive growth initiatives.”
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