Genstar Capital Invests in TA-Backed PDI

San Francisco-based private equity group Genstar Capital has invested an undisclosed sum in Professional Datasolutions Inc. (PDI), a provider of enterprise-class software solutions for the convenience retail and wholesale petroleum and logistics industries. On the close of the deal, TA Associates, who invested in PDI in 2016, will maintain a “significant” share in the Temple, Texas-based tech company.

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PDI was founded in 1983 with the goal of delivering innovative solutions to the convenience store retailer and wholesale petroleum marketer. In 1986, the firm teamed with 21 companies in efforts to build an enterprise-level system for the convenience store industry. The resultant software architecture has allowed companies to integrate their home-office pricebook to a variety of point-of-sale (POS) devices, creating “POS independence” which allows organizations to create a one store operating system regardless of the POS systems employed.

PDI says it will use the new capital to accelerate its international expansion.

“Genstar focuses on identifying market leaders in the software sector and we believe that PDI has established an unmatched presence in the market for more than 30 years,” stated Eli Weiss, managing director at Genstar Capital. “We are confident that the breadth of PDI’s current portfolio along with the potential for expanding its existing services and software offerings will bring a new level of experience to the industries and the customers it serves. Our added capital and resources in partnership with TA Associates will provide PDI with the means to further develop their technology and allow for strategic add-on acquisitions that we believe will meet the needs of a rapidly changing market. We look forward to working with the PDI management team and TA to help accelerate the company’s growth.”