DFW Capital Partners announced today that it has completed the sale of its portfolio company, SoftWriters Holdings, Inc. to an affiliate of TA Associates, a leading global private equity firm focused on technology, healthcare and service businesses.
DFW originally invested in Pittsburgh-based SoftWriters in 2009, leading a management recapitalization of the business from its founding shareholders. During its more than four-year hold period, SoftWriters experienced tremendous growth in market share, revenues and earnings, as it cemented itself as the premier provider of enterprise application software and related transaction services to the institutional pharmacy industry. SoftWriters will continue to be led by Tim Hutchison (CEO) and Chris Delposen (CFO), and with TA’s backing plans to continue to expand its market presence as well as develop and deploy new technology offerings to the pharmacy marketplace.
Tim Hutchison commented “We have thoroughly enjoyed our partnership with DFW as we have transformed SoftWriters into the market leader in the institutional pharmacy technology industry. Their guidance and expertise has proven invaluable to us along the way, and has helped position ourselves for our future with TA. We are looking forward to forging an exciting growth path with our new investors, and continuing to build SoftWriters for the benefit of its customers and stakeholders.” Keith Pennell, Managing Partner with DFW, noted “We have had the good fortune of investing in a terrific company with a trusted, talented management team. It has been gratifying to watch Tim and his colleagues develop the organization and drive significant growth during our ownership, culminating in an outstanding return for our investors. We wish them the best of success with their new partners.”
DFW partnered with Tri-State Bank, Susquehanna Bank, Greyrock Capital Group and CIGNA Insurance in the SoftWriters investment, which is a DFW Capital Partners III, L.P. portfolio company. Robert W. Baird & Co., Inc. represented SoftWriters in the sale.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in both building companies, and generating returns for its investors. DFW is headquartered in Teaneck, NJ, and maintains an office in Chevy Chase, MD. For more information contact Keith Pennell, Managing Partner, at (201) 836-6000.