TRG Screen Receives Investment From Pamlico Capital
Pamlico Capital (“Pamlico”) announced that it has made an investment in TRG Screen, a leading provider of enterprise subscription management software. Terms of the transaction were not disclosed.
With Pamlico’s backing, TRG Screen will accelerate its investment in its unique portfolio of spend and usage capabilities, adding new solutions that bring breadth and depth to the subscription lifecycle, and continuing expansion into new expense categories and client segments.
TRG is partnering with Pamlico at an exciting time. Following several years of very strong growth, plus the acquisition of Priory Solutions in 2016 and Screen Group earlier this year, the Company has built a large global client base and is the leading provider of spend and usage solutions to the financial, legal and professional services markets. This success has been built upon TRG’s product portfolio which provides the unique combination of comprehensive subscription spend capabilities, plus full transparency into usage, allowing TRG’s clients to truly optimize their spend.
“I could not be more thrilled to partner with Pamlico on this next stage of our growth journey” says Steve Matthews, CEO of TRG Screen. “This is a very exciting time for our company. The subscription economy is creating a dramatic shift towards subscription-based services and at TRG Screen we are uniquely positioned to help our clients optimize their spend and usage across their full spectrum of subscription-based services including market data, software licenses and research spend. Pamlico’s commitment to support our growth will ensure that we can continue to deliver innovative solutions to our global client base”.
Pamlico Partner Walker Simmons and Vice President Jay Henry will join the TRG Screen Board of Directors and will work closely with the existing management team to continue to expand the company’s client base, product range, and industry coverage, while maintaining TRG’s reputation as the market leader in client satisfaction and customer retention.
“We are pleased to welcome TRG to the Pamlico family,” said Walker Simmons, Pamlico Partner. "Amidst a proliferation of online subscription spend, we believe management has built a formidable platform that is well positioned to accelerate growth and expand into adjacent markets. We look forward to driving additional core product innovation, while also expanding the existing offering to more broadly address spend management needs for TRG’s clients.”
As part of the transaction, outgoing investor Polaris Partners will divest their stake in the business after a successful partnership.
“Polaris Partners have been an incredible partner whose backing has been extremely important to our success and growth over the last four years” says CEO Matthews. “While we’re sad to be leaving the Polaris family, we’re extremely enthusiastic by the opportunity to partner with Pamlico for the next phase of our journey.”
TRG Screen will maintain its headquarters in New York, NY, and international offices across Europe and Asia/Pacific, including the UK, Netherlands and Singapore.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.