Private equity firm Tritium Partners LLC is launching an information services company to pursue further investments in the information technology and digital service sectors. The investment to support the new initiative stems from the firm’s $309 million debut fund that closed in 2015, Tritium I.
The portfolio company will focus on enabling businesses to benefit from more efficient communications between companies and consumers. The company will look to vertically integrate customer interfaces, including: customer targeting and segmentation, enriched data, and intelligent transaction capabilities. Jason Hogg, former CEO of B2R Finance and Revolution Money, will join Tritium under the firm’s CEO Partners program to serve as director of the new information services company.
“This is a major initiative for Tritium Partners and I am honored to be receiving their financial commitment and support as a CEO Partner,” states Hogg. “Tritium shares my passion for seeking companies where data, analytics and technology are being leveraged to provide differentiated business intelligence, workflow solutions and tech-enabled marketing offerings to customers.”
Tritium is a lower middle-market private equity firm founded in 2013 with a focus on buyouts of growth companies across a multitude of sectors such as: internet and information services, financial services, business services, supply chain, and logistics. The Austin, Texas-based PE firm typically makes majority investments in businesses generating between $2 million and $15 million in Ebitda. Tritium’s portfolio companies consist of: PayCommerce, a cross-border payments network; Giact, an information service company protecting against fraud while processing electronic payments; RoadOne, an intermodal transportation and logistics company; digital media conglomerate Fexy Media; and Global Access, an e-commerce network that helps retail companies increase international sales.
There’s a strong demand for data providers, as quite a few sectors, especially retail, have been disrupted by the Internet and its capabilities. Recent deals include: The Carlyle Group's (Nasdaq: CG) acquisition of consumer data provider Claritas from Nielsen (NYSE: NLSN); Deluxe Corp.’s (NYSE: DLX) completed purchase of First Manhattan Consulting Group LLC (FMCG Direct), an analytics-based marketing services firm; Blackstone Group LP (NYSE: BX) and New Mountain Capital’s $570 million investment in retail data provider JDA Software Group Inc.; HGGC’s add-on acquisitions to portfolio company Survey Sampling, a brand tracker; and Summit Partner’s investment in retail data firm Mi9 Retail.