PDQ Announces Growth Investment from TA Associates
SALT LAKE CITY - PDQ.com (“PDQ”), a leading provider of IT asset management software for small and medium-sized businesses, announced that TA Associates ("TA"), a leading global growth private equity firm, is making an investment in the company.
TA, together with the PDQ founders and executive management team, plan to accelerate PDQ’s growth as the company aims to expand its portfolio of easy-to-use IT asset management and scanning software solutions.
PDQ provides software for system administrators and IT professionals. The company’s primary products are PDQ Deploy, an automated patch management, software update and endpoint communications application; and PDQ Inventory, an endpoint information collection and reporting application for software, hardware and Windows configuration data. PDQ serves more than 18,000 customers across a variety of industries, including education, technology, manufacturing, and government. Founded in 2001, PDQ is headquartered in South Salt Lake and has 80 employees.
“We started PDQ to make the lives of sysadmins easier,” said Shane Corellian, co-founder of PDQ. “The PDQ team is made up of sysadmins, and we realize how difficult their job can be—particularly for those working at small and medium-sized businesses.”
"This investment allows us to bring added value to our worldwide customer base," said Shawn Anderson, co-founder of PDQ. "TA has a great track record of successfully scaling software companies, and we're excited to have them on board."
“As a patient, growth-oriented investor, we seek to partner with owners and management to build outstanding businesses,” said Amit Jain, a Senior Vice President at TA. “PDQ represents a unique opportunity to invest in a profitable, growing company with a differentiated product suite in an industry we know quite well. We’re excited to make this investment and work alongside the talented PDQ management team, with the goal of helping the company with its next phase of growth.”
“We’ve been impressed with PDQ’s exceptional user community and strong brand affinity. Their products are popular, easy-to-use, and robust,” said Harry Taylor, a Managing Director at TA. “Given the sizable and fragmented IT systems management market, we see opportunities for accelerating growth. In collaboration with PDQ, we’ll focus on promoting the company’s compelling value proposition to expand PDQ’s customer base.”
Horizon Partners is serving as financial advisor and Perkins Coie is providing legal counsel to PDQ. William Blair is serving as financial advisor and Kirkland & Ellis is providing legal counsel to TA.
Through its PDQ Deploy and PDQ Inventory products, PDQ helps system administrators keep machines up to date so they can focus their time and energy where it's needed most. PDQ Deploy helps automate patch management without bothering end users, while PDQ Inventory tracks and organizes hardware, software, and Windows configuration data. Founded in 2001, PDQ.com is headquartered in South Salt Lake, Utah. For more information, please visit www.pdq.com.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.