Bain Capital Private Equity announced an agreement on Thursday to recapitalize San Diego-based TriTech Software Systems. Financial terms were not disclosed at the time of the announcement.
The recapitalization negotiation is undergoing standard regulatory approvals and officials expect it to close during the second quarter of 2018.
TriTech Software Systems was founded in 1992 and is a provider of public safety software. The company provides mission-critical software such as mapping technology and cloud-based agency solutions for police departments and emergency responders among others. TriTech’s services encompass many aspects of the incident-response workflow, from 911 calls to records management, jail management and analytics and intelligence among others.
TriTech currently provides a software suite to over 4,000 agencies throughout the United States. TriTech’s data-driven approach and strategic position as a leader in the field has lent itself to shifting trends in the public safety sector, where data sharing and interagency connectivity have gained many supporters in recent years. The company is now widely considered the market leader in cloud-based software solutions in the public services sector.
Insight Venture Partners is the current controlling stakeholder of TriTech Software Systems.
Bain Capital Private Equity was founded in 1984 and today is comprised of a global team of 220 investment professionals with investments in verticals including healthcare, consumer/retail, financial and business services, industrials, telecommunications and many more.
The Bain Capital Private Equity team has invested deeply in the tech sector and brings along extensive experience in the field. The company has made investments in Symantec, Viewpoint Construciton Software, Vertafore, SunGard Data Systems, Skillsoft and many other companies.
TriTech Software Systems consulted William Blair & Company LLC on the details of the transaction and Kirkland & Ellis LLP served as legal counsel. PwC LLP ws accounting advisor for Bain Capital Private Equity.