DUBUQUE, Iowa — (BUSINESS WIRE) — September 19, 2017 — To fuel its commitment to building high-performance government, Cartegraph Systems announced today that it has taken on a growth investment from Pamlico Capital.
Cartegraph devotes itself to cities, counties, and government agencies looking to be more effective, efficient and productive in their daily operations. The company builds software that empowers users to capture infrastructure asset data, analyze it and prepare for the future.
“Cartegraph is at a great moment on our journey to building high-performance government. Our team and our technology are the best they’ve ever been—and we have some big ideas to continue to grow,” said Jake Schneider, Cartegraph President and CEO. “After getting to know the team from Pamlico, I’m confident they share our vision and are absolutely the right partner for this next chapter of Cartegraph’s story.”
Based in Charlotte, NC, Pamlico is a private equity firm that specializes in growing founder-owned businesses and has a passion for the government technology sector.
“Pamlico was seeking a technology investment focused on the local government market, as we see tremendous opportunity for increased efficiencies in cities and counties, which can be accelerated through software adoption. When we met the Cartegraph management team, we knew they were passionate about this opportunity,” said Eric Wilkins, Pamlico Partner. Christiane Felts, Pamlico Vice President added, “We look forward to driving additional core product innovation, while also expanding the existing offering to more broadly address the asset management and business operations needs of Cartegraph’s civic clients.”
Pamlico invested in Cartegraph in partnership with founder Scott Taylor. Scott started Cartegraph in his basement with three other businessmen in 1994, and will remain an ongoing shareholder.
“It has been such a privilege to grow this business for nearly 23 years,” said Taylor. “I truly believe that Cartegraph is revolutionizing the way local government operates. The company is primed for growth and this investment from Pamlico is coming at the right moment. I am excited for Cartegraph’s continued success.”
CEO Jake Schneider and the Cartegraph management team will continue to lead the growth of the company moving forward and the company’s headquarters will remain in Dubuque, Iowa. Any questions should be directed to Kate Ernst, (563) 587-3346 or kateernst@cartegraph.com.
Cartegraph was advised by GLC Advisors (exclusive financial advisor) and Bryan Cave LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
About Cartegraph:
Cartegraph, headquartered in Dubuque,
Iowa, empowers cities and counties to become high-performance
organizations. They offer services and software to help local government
agencies manage assets effectively, deploy resources efficiently and
become more productive for the benefit of their citizens. For more
information, please visit
www.cartegraph.com.
About Pamlico Capital
Pamlico Capital is a private equity
firm founded in 1988 that primarily invests in growing middle-market
companies in North America. Pamlico Capital seeks control-oriented
growth equity investments of up to $100 million alongside founders and
proven management teams in its target industries; business & technology
services, communications and healthcare. Since inception, the firm,
based in Charlotte, NC, has invested over $2.5 billion. For additional
information, please visit
www.pamlicocapital.com.
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Contact:
Cartegraph
Kate Ernst, 563-587-3346
Director of
Marketing
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