Serent Capital, a growth-focused private equity firm investing in founder-led, B2B software and technology companies, announced that its portfolio company Davisware, a leading provider of ERP software for field service businesses, has been acquired by ECI Software Solutions, a global provider of cloud-based business management software.
Founded in 1988 and based in West Dundee, IL, Davisware began in a family-run HVAC business and has since evolved into a trusted technology provider for field service contractors, OEMs, and specialty trades across industries such as food equipment service, petroleum contracting, and commercial HVAC. Its platform offers modular ERP functionality, remote scheduling and field technician management, inventory and warranty systems, and field sales enablement.
Serent Capital partnered with Davisware in 2019, recognizing its strong product-market fit and deep roots in the field service industry. Over the course of the partnership, Serent supported Davisware’s expansion efforts and helped drive strategic initiatives to fuel growth and innovation.
“Partnering with the Davisware team and supporting their growth journey has been incredibly rewarding,” said Stewart Lynn, Partner at Serent Capital. “Over the 5 years, we focused the company in its core markets, built out the executive team, and invested in key go-to-market initiatives. As a result, the business more than doubled its revenue organically, and strengthened its market leadership and impact across the field services industry. We’re proud of all they’ve accomplished and look forward to their continued success with ECI.”
With more than 35 years in the field service industry, Davisware supports over 360 customers and employs 145 team members across the U.S., Canada, and India. The company’s integration with ECI will unlock new opportunities for growth, innovation, and global scale.
Serent Capital has a strong track record of investing in field services technology companies, having partnered with over a dozen innovative businesses in this space to help them scale and succeed. For more information about Serent Capital’s investments, visit serentcapital.com.
About Serent Capital
Serent Capital is a growth-focused private equity firm investing in capital-efficient, B2B SaaS and technology companies. From its founding, Serent set out to build a distinctly different firm that prioritizes founders and their companies and provides true hands-on resources through its 25+ person Growth Team. Serent’s in-house Growth Team is equipped with a wide range of resources to help companies accelerate growth, including strategic and operational support to drive revenue generation, assistance in building a top-tier executive team, guidance for transformative M&A, and a community of 400+ founders and operating executives. With $5 billion of assets under management, the firm has partnered with over 60 founder-led, industry-changing companies and offers unparalleled hands-on operational support. Discover how Serent Capital is fueling the growth of innovative companies across a range of industries at www.serentcapital.com.
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Sam Whitford
Sam.whitford@serentcapital.com
