Spring Capital Closes New Investment in Pierce Washington
SPRING CAPITAL PARTNERS IV, L.P.
is pleased to announce the closing of an investment in
Pierce Washington, LLC
$4.0 Million of Subordinated Debt and $1.1 Million of Equity
Spring Capital Partners IV, L.P. is a Small Business Investment Company (“SBIC”) as licensed by the United States Small Business Administration in accordance with the Small Business Investment Act of 1958, as amended.
Transaction Overview
Spring Capital Partners IV, L.P. (www.springcap.com) invested $4.0 million of subordinated debt and $1.1 million of equity in Pierce Washington, LLC (“Pierce Washington” or the “Company”). The transaction will accelerate Pierce Washington’s growth and expansion, specifically in offering its customers a “total commerce” solution across the quote-to-cash business process. Spring Capital partnered with Kidd & Company, Ignite Labs, and Southfield Mezzanine in the transaction.
About Pierce Washington
Pierce Washington is a leading software system integrator executing enterprise-level configure-price-quote (“CPQ”) and digital commerce implementations. Founded in 2005 and headquartered in San Francisco, CA, the Company assists companies with the digital transformation of their Quote-to-Cash process. Pierce Washington helps organizations connect their customers, channel partners, and internal sales teams with the information they need to increase revenue and improve margins.
About Spring Capital Partners
Spring Capital Partners was founded in 1999 to provide mezzanine capital to growing small and medium sized businesses. The firm has managed over $600 million of capital and is currently investing out of its fourth fund, Spring Capital Partners IV, a $250 million SBIC. Investments are made in the form of subordinated debt and minority equity, typically in the range of $2 million to $20 million per investment. In addition to investing in change of control/buyout transactions with committed private equity funds and independent sponsors, Spring Capital also provides capital to privately held businesses to support acquisitions, growth, and minority recapitalizations.