Harris Williams Advises FRONTSTEPS on its Strategic Investment in Caliber Software
May 30 2019 - 12:42PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised FRONTSTEPS, a
portfolio company of CIP Capital, on its strategic investment in
Caliber Software (Caliber). FRONTSTEPS is an industry leading SaaS
platform serving single-family and condo high-rise associations
with unified property management, resident portals, accounting,
payments and security solutions. The transaction was led by Mike
Wilkins, Erik Szyndlar, Brian Titterington and Gunnar Shaw of
Harris Williams’ Technology, Media & Telecom (TMT) Group.
“FRONTSTEPS’ end-to-end, market leading real-estate SaaS
platform and comprehensive suite of property management solutions
provide immense value to its customers,” said Mike Wilkins, a
managing director at Harris Williams. “The highly strategic
investment in Caliber greatly enhances the FRONTSTEPS platform by
adding accounting capabilities and creating a single platform for
the association community management industry. We are excited about
the opportunity ahead for the business.”
“Under the leadership of CEO Jamie Clymer and with the backing
of CIP Capital, FRONTSTEPS has become a clear market leader within
property management software,” added Erik Szyndlar, a director at
Harris Williams. “We are proud to have worked with an exceptional
management team on this transaction and are excited to see the
combined company continue to grow and innovate across the broader
real-estate technology landscape.”
FRONTSTEPS' mission is to design and deliver technologies that
simplify how people build, connect, operate and secure modern
communities. FRONTSTEPS serves over 17,000 residential communities
with its industry leading community management and security
software offering in-app payments, resident self-service, visitor
management, communication tools and more. Combined with Caliber,
the company now serves over 34,000 residential communities.
CIP Capital is a New York-based private equity firm focused on
investing in growth-oriented, middle market companies across the
business information and technology-enabled services sectors in
North America. The fund seeks to invest in proven, profitable
businesses that provide their customer bases with critical
information, data-driven insights and value-added outsourced
services. CIP Capital targets investments in sectors including
tech-enabled business services, data-driven marketing services,
human capital management and knowledge services.
Serving thousands of housing and condominium associations,
Caliber is an accounting system built by software professionals who
know how to deliver and support feature-rich, scalable and
architecturally-sound software solutions into the public
domain.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams’ TMT Group advises leading private and public
companies, entrepreneurs, private equity firms and venture capital
firms on mergers and acquisitions and capital-raising transactions
worldwide. The TMT Group has deep domain expertise in the
Software/SaaS and Internet & Digital Media segments, with
particular emphasis on specific verticals including education
technology, data analytics, energy technology, fintech, public
sector, and supply chain/logistics—with a dedicated healthcare
technology (HCIT) practice. Across verticals, the firm also advises
technology services and networking solutions businesses. For more
information on the TMT Group and its recent transactions, visit the
TMT Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 915-0179.
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version on businesswire.com: https://www.businesswire.com/news/home/20190530005690/en/
Katie Langemeier, associate brand manager+1 (804) 915-0179
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