The CapStreet Group Announces Investment in TradePending
The CapStreet Group, LLC is pleased to announce the completion of the majority recapitalization of TradePending, LLC. ("TradePending" or the "Company"), in partnership with the founders and shareholders.
HOUSTON, Feb. 15, 2021 /PRNewswire-PRWeb/ -- Founded in 2014 and headquartered in Carrboro, North Carolina, TradePending's mission is "simple automotive". The Company builds software for car dealerships that brings accuracy, transparency, and simplicity to both their customers and consumers alike. The solution leverages vehicle pricing data to enable digital retailing, optimize online conversions, and maximize profitability for trade-in vehicles.
"From the outset, we were impressed with the CapStreet team. They took the time to not only understand the industry and our business model, but also the culture and spirit that makes our company tick," said Brice Englert, TradePending's CEO. "With this new partnership we're setting the stage for accelerated organic growth. As we continue to build a scalable organization, that opens up opportunities for us to explore new areas within automotive as well." Englert added, "Our dealer customers continue to face a more competitive market than ever, especially in pre-owned, that necessitates solutions to help them source, manage, merchandise and sell used and new inventory. TradePending has given thousands of dealers a competitive edge for seven years, and this partnership with CapStreet will allow us to be more innovative and aggressive than ever before."
Adrian Guerra, Partner with CapStreet, commented, "TradePending is a dynamic company that has created significant growth momentum due to its unique value proposition. Brice and the rest of the management team have done a great job building the business, and we look forward to partnering with them in the next phase of growth." Chas Richard, a Vice President with CapStreet, added, "TradePending has tremendous potential as a platform with numerous opportunities to expand and enhance its solutions through internal investments and add-on acquisitions."
TradePending is the second investment for CapStreet V, LP, which has $500 million of committed capital.
The CapStreet team for the TradePending investment also included Rob Madorsky and Evan Harmon.
Portico Capital served as the exclusive financial advisor to TradePending. Willkie Farr & Gallagher served as CapStreet's legal counsel, while Robinson Bradshaw served as legal counsel for TradePending.
About The CapStreet Group
The CapStreet Group is a Houston, Texas based private equity firm that invests in owner-managed, lower middle market companies. CapStreet targets companies operating in the outsourced business service sector and the industrial distribution, services and manufacturing sectors. CapStreet's approach is to partner with excellent management teams to build out corporate infrastructure, accelerate growth and profitability, and create long-term sustainable businesses. For more information, visit The CapStreet Group website, http://www.capstreet.com.
Media Contact
Matthew Davis, TradePending, +1 (804) 374-9797, [email protected]
SOURCE TradePending
Share this article