Marathon Data Systems, a Leading SaaS Provider of Field Service Software and Services, Completes Growth Equity Buyout with Chicago Growth Partners
Marathon's Management Team Partners with Leading Growth Equity Investor to Support Investments in Product Development, Support, and Acquisitions to Fuel Growth
WALL TOWNSHIP, N.J., Aug. 30, 2012 /PRNewswire-iReach/ -- Marathon Data Systems ("Marathon"), a leading provider of comprehensive turnkey Software-as-a-Service (SaaS) software solutions used by field service businesses, such as pest control and HVAC repair service providers, to manage a wide variety of critical business processes, announced today that the company was acquired by Chicago Growth Partners ("CGP"), a leading growth equity investor. As part of this transaction, Marathon's current financial sponsor, Concentric Equity Partners ("CEP") will exit their investment in the company. The company plans to significantly increase investments in product development, support, and marketing, and to pursue additional acquisitions that will further accelerate the organization's rapid expansion plans.
Marathon's suite of product offerings form an operating platform for field service companies that integrates a core enterprise resource planning application with customer relationship management tools, mobile applications, route optimization technology, lead generation and website services. Through this operating platform, Marathon provides customers in key service verticals, such as pest control, HVAC, lawn, landscape, and maid service a tailored set of functionality designed to solve key pain points along the entire service supply chain.
Ken Hooten, former Chairmen of Marathon Data and a CEP Partner, commented, "We could not be more pleased to see Chris Sullens and Marathon join Devin Mathews and CGP in the new partnership. Marathon's customers will benefit from the new partnership's commitment to advancing its leadership in software and services for the field services industry. We appreciate our long partnership with the Marathon team and look forward to hearing of their continued success".
Chris Sullens, Marathon's Chief Executive Officer, added "Our partnership with CEP has been a long and fruitful one, allowing us to take the business from its small entrepreneurial roots to a rapidly growing middle market software business. I've truly enjoyed working with Ken and his team, they've been fantastic financial and strategic partners. That said, I'm equally as excited to partner with Devin and the CGP team. They bring a set of resources, experiences and focus that will allow us to achieve our vision of being the preeminent software provider for field service companies."
Marathon continues to enjoy extraordinary growth with approximately 300% revenue growth in the past five years. For two consecutive years, it has both been named one of the best places to work in New Jersey by NJBIZ magazine and ranked on the Inc. 500/5000 list of America's fastest growing private companies.
As part of its expansion strategy, Marathon plans to significantly increase full time staff over the next two years in the areas of product development, engineering, customer support, marketing and sales.
David Chandler, Devin Mathews and Ryan Milligan will join Chris Sullens on Marathon's Board of Directors.
Marathon was advised by ArchPoint Partners on the transaction.
About Marathon Data Systems
Marathon Data Systems provides configurable, fully featured software solutions for field service businesses of all sizes that can be accessed on a SaaS or on-premise basis. Whether for a $100 million+ national provider or a single branch business, Marathon offers a suite of services designed to mitigate the key pain points that field service companies face in their daily operations: finding customers, estimating services, converting leads, routing & managing technicians, fulfilling orders, collecting payments and managing the back-office. By integrating Enterprise Resource Planning, Mobile Workforce Management and Customer Relationship Management functionality with a suite of Lead Generation offerings, Marathon Data Systems offers a tailored, fully-featured solution set for pest control, lawn and landscape, HVAC, plumbing, janitorial, maid and carpet cleaning field service companies. For more information on Marathon, please visit www.marathondata.com.
About Concentric Equity Partners
Concentric Equity Partners is a private investment firm based in Chicago, IL, which invests in business, financial, and healthcare services companies. Concentric provides capital and experience to profitable growth businesses run by outstanding management teams. The firm's approach is to support entrepreneurs with capital, operating expertise and industry knowledge. Concentric's principals have distinguished track records as operators and professional investors in a variety of growth oriented middle market companies. Concentric is the direct investing arm of Financial Investments Corporation ("FIC"), a private asset management firm with over $650 million in private equity commitments under management. For more information on Concentric, visit www.fic-cep.com.
About Chicago Growth Partners
For over 25 years and across more than 100 growth companies, the principals of Chicago Growth Partners have partnered with quality management teams to help facilitate their growth objectives. CGP executes its growth-focused investment strategy across four industries: Technology-Enabled Services, Education, Healthcare and Industrial Growth, where our expertise in information technology, marketing, and finance can often be helpful to our management teams. CGP currently manages $1.2 billion of committed capital and has offices in Chicago and La Jolla. For more information on Chicago Growth Partners, please visit www.cgp.com.
SOURCE Marathon Data Systems, LLC
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