ABILENE, Texas, Nov. 19, 2019 /PRNewswire/ -- WolfePak Software, a portfolio company of Charlesbank Capital Partners and leading provider of accounting, regulatory compliance and automation software for the oil and gas industry, announced today its acquisition of DocVue, a provider of imaging, document management and workflow software. DocVue will operate as a standalone product division of WolfePak Software, furthering WolfePak's commitment to deliver best-of-breed solutions to the oil and gas markets. Financial terms of the transaction were not disclosed.
"Adding DocVue to WolfePak's product portfolio expands our ability to help independent oil and gas companies solve the continuous challenge of managing all data touch points in the digital oilfield," said Brent J. Rhymes, CEO of WolfePak Software. "We are delighted to welcome DocVue employees, customers and partners to WolfePak."
"We are excited to expand WolfePak's product portfolio and strengthen its industry position with the DocVue acquisition. DocVue's deep domain expertise in oil and gas, combined with the extensive software experience of the combined WolfePak and DocVue leadership teams, poise the Company to achieve aggressive growth in new and existing markets," said Mayur Desai, Principal at Charlesbank.
Based in Morrison, Colorado, DocVue provides the oil and gas industry with solutions that provide intelligent capture of oilfield documentation, automated distribution through approval processes, and easy and secure electronic access to a centralized repository for lease records, contracts, AFEs, invoices, and other critical documents. Immediate plans include additional research and development in both the cloud and enterprise offerings of DocVue and extending the offering of the current WolfePak Document Management solution.
Beth Trammell, founder and CEO of DocVue, said, "DocVue will continue as the industry's gold-standard for content management solutions designed for the oil and gas industry, regardless of the connecting platform. With WolfePak behind our development and innovation, the possibilities for enabling better access to information are truly endless."
WolfePak Software will further develop its ERP platform and DocVue integration to launch new and enhanced cloud and enterprise solutions. In addition, both DocVue and WolfePak will continue to work with other software providers and partners to provide customers with seamless access to documentation through their preferred interfaces.
Trammell will remain on as an ongoing advisor to WolfePak Software and is a founding member of the newly formed WolfePak Product Advisory Board, which will provide overall feedback on product roadmaps, advise on feature prioritization, and help define product strategy.
DocVue has been an industry leader serving the oil and gas community since 1996. The DocVue imaging, document management and workflow tools enable companies to intelligently capture, secure, distribute and manage documents and their associated approval processes. Integrated with the leading Accounting, Land and Operations systems, DocVue makes access to lease records, contracts, AFEs, invoices, MSA's, Plant Statements, and other critical documents easy, safe and secure. Working together with the industry's leading solution providers, the DocVue software suite automates and streamlines labor intensive, paper-based processes and ensures that information is accessible to the right people at the right time to support better decision making. For more information, please visit www.docvue.com.
About WolfePak Software
WolfePak Software offers a fully integrated suite of software products for oil and gas upstream and midstream customers, including exploration and production well operators, crude oil purchasers, transporters, haulers, investors, CPA firms and service companies. Located in Abilene, deep in the heart of the Texas oil patch, WolfePak serves customers throughout the United States and the world. With its staff of experienced software developers, CPAs and oil and gas professionals, WolfePak has provided best-of-breed accounting and automation software and services since 1986. For more information, please visit www.wolfepak.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $5 billion of capital. Charlesbank focuses on management led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
SOURCE WolfePak Software