Silver Lake to invest in EverCommerce
Summary
The investment from Silver Lake and continued backing from PSG will support the Company’s acquisition of additional best-in-class technology solutions in target industries and further development of EverCommerce’s shared services and center of excellence departments. “Silver Lake’s deep expertise in supporting the development of premier technology and tech-enabled businesses will benefit EverCommerce for years to come,” said Eric Remer, the Company’s Founder and CEO. “Silver Lake’s investment and technology experience and relationship network will augment the industry and operational expertise PSG has brought to EverCommerce over the past several years and advance our mission to support the success of millions of service business owners around the world.” “The services sectors are critical contributors to economic growth, and EverCommerce enables its clients in these attractive verticals with best-in-class technology and solutions,” said Joe Osnoss, Managing Director of Silver Lake. It has been a privilege to partner with Eric and his team to help them realize their vision, and we look forward to working alongside Silver Lake to help EverCommerce reach new heights during its next phase of growth.” Upon closing the transaction, which is subject to certain customary closing conditions, Joe Osnoss and Jonathan Durham of Silver Lake will join Mark Hastings and John Marquis of PSG, as well as CEO Eric Remer, on EverCommerce’s Board of Directors. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value.