PDI is a leading provider of ERP software and services to the convenience retail and petroleum wholesale marketer industries.
TA has helped PDI:
- Complete fourteen complementary acquisitions, eight of which were sourced by TA
- Recruit a new CEO, CTO, CMO, Global Head of Sales, VP of Human Resources, VP of Corporate Development and two independent directors
- Expand customer count (1,500+) and employee base (950+) nearly five times
- Accelerate growth with launch of four new business lines: logistics, wholesale fuel management, fuel pricing and loyalty
- Re-structure and integrate the sales teams from all acquisitions, and harmonize territories, quotas and compensation plans to accelerate cross/up selling
- Expand globally into Canada, Europe and Asia, and serve customers in 50+ countries
- Roll out a successful rebranding process
Founded in 1983, PDI provides enterprise software and solutions to leading convenience retailers, wholesale petroleum marketers and logistics carriers. Over 1,500 customers in more than 50 countries rely on PDI’s software for retail, wholesale and logistics automation, financial reporting, business insights, workforce management and end-to-end fuel supply chain. PDI’s customers include blue-chip retailers, including Circle K, Cumberland Farms and Sunoco.
The Investment Opportunity
Leveraging TA’s decades of experience investing in software businesses, we took a deep dive into identifying the market leaders who were supporting the software needs of prominent convenience store retailers and wholesale fuel marketers. Having followed PDI for a number of years, TA saw an appealing investment opportunity because of the company’s strong marketplace position. TA also recognized a unique opportunity to leverage PDI’s large and diversified installed base of enterprise customers to cross sell more products and services to its existing clients. TA completed a majority investment in PDI in May 2016.
Adding Value to Scale Growth
Given the ability of PDI’s management team to execute and integrate accretive acquisitions, TA sought to complement the company’s existing organic growth with acquisitions to add additional products in new and emerging markets. Since completing our investment in mid-2016, TA has helped PDI source, analyze and complete fourteen strategic add-ons. We believe our experience helping portfolio companies with their M&A strategy has paved the way for PDI to continue executing on strategic acquisitions more quickly and efficiently. TA also helped PDI improve its marketing organization and infrastructure, leading to increased revenues and enhancing new business opportunities.
By utilizing TA’s investment staff and Strategic Resource Group, PDI has been able to successfully capitalize on inorganic opportunities faster than expected. Since TA invested, organic growth has accelerated and employee count and customer count are all up more than 400%. Today, PDI’s services and products are utilized in over 100,000 retail stores in more than 50 countries around the world. As a result of this evolution, PDI is growing 15% year-over-year and making significant strides in reaching its goal of becoming the global leader in enterprise management software to the convenience retail and petroleum wholesale industries.
All statistical and financial metrics are as of December 31, 2018.
Case studies have been selected for illustrative purposes for management teams of growth companies considering a partnership with TA and should not be considered an offer or solicitation of services or an actual or implied endorsement of TA or any security, investment or portfolio company. The portfolio companies highlighted are not representative of all current and prior investments of TA. A list of investments for the past 25 years is available on this website.