SAN FRANCISCO and JACKSONVILLE, Fla., June 29, 2021 /PRNewswire/ -- Luminate Capital Partners, a private equity firm investing in enterprise software companies, today announced the sale of AutoQuotes, the leader in configure-price-quote (CPQ) and supply chain software for the foodservice equipment and supplies industry, to TA Associates. The company will become part of Revalize, a new cloud-software platform for manufacturers formed by TA.
Luminate acquired AutoQuotes in 2018 from the founding team. Since Luminate's investment, AutoQuotes has seen strong growth, adding a world class management team and significantly expanding its product suite. In 2020, AutoQuotes acquired Axonom, a visual configuration platform for B2B finished products.
Jim Contardi, Chief Executive Officer of AutoQuotes, said, "Over the last few years, the AutoQuotes team has enjoyed a great partnership with Luminate; they have helped us build our organization organically and through acquisition, opening up new growth opportunities and expanding on our market leadership."
"AutoQuotes is a mission critical provider to its customers and has experienced strong performance since our initial investment," said Hollie Haynes, Managing Partner at Luminate. "The company has done a great job of continually developing new products for its existing customer base, in addition to entering adjacent verticals," noted Mark Haidet, who has served as chairman of AutoQuotes since the Luminate investment.
Legal advice to Luminate and AutoQuotes was provided by Kirkland & Ellis.
About Luminate Capital
Luminate Capital Partners is a private equity firm investing in growth software companies. Luminate partners with management teams to provide capital to drive strategy, growth, and operational improvements. Luminate's portfolio of market leaders has included AMTdirect, AutoQuotes, Axonify, Comply365, Conexiom, Fintech, LiquidFrameworks, MSI, Oversight Systems, PDI, Quantivate, StarCompliance, and Thought Industries. For more information, visit https://www.luminatecapital.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations
SOURCE Luminate Capital Partners