Investment to Strengthen capSpire's
Commodity / Energy Trading and Risk Management Services Market
Leadership
CHARLOTTE, N.C. and TULSA, Okla., July 16,
2024 /PRNewswire/ -- capSpire, an industry-leading
provider of commodity / energy trading and risk management
("C/ETRM") services for enterprises engaged in trading and managing
large portfolios of energy and commodities physical and financial
assets today announced a significant growth investment from
Falfurrias Management Partners ("Falfurrias"), a Charlotte-based private equity firm focused on
growth-oriented, middle-market businesses. This transaction will
help capSpire capitalize on its position as a market leader to
drive significant scale, expand offerings, and increase geographic
coverage.
The C/ETRM market is driven by increasing volatility, expansion
of trading in renewable energy, constantly changing supply chains,
and growing regulatory complexity. Enterprises face
challenges in managing their complex trading and asset management
software systems driven by rapidly evolving markets, geopolitical
pressure, and increasing integration requirements.
Founded in 2009, capSpire has distinguished itself as a leading
provider of C/ETRM services designed specifically to solve the
complex technology and business problems for commodity-focused
organizations across North
America, Europe, and
Asia. The Tulsa-based company supports a broad portfolio
of C/ETRM software platforms across all material platforms and
software providers. Along with C/ETRM platform integration
services, the company offers an Operations Support solution to
provide customers continuous support that addresses in-house
knowledge and skills gaps. capSpire takes pride in developing
long-term relationships with customers to drive value through
sophisticated, pragmatic solutions that address evolving industry
challenges. As part of the transaction, Gravitate, a provider of
AI-enabled supply chain optimization software for the energy and
commodity industries that was formerly a subsidiary of capSpire,
has been separated into a standalone entity that also received a
growth investment from Falfurrias.
CEO Jim Kiser, along with
co-founders Jeff Hardcastle and
Mike Scharf, will continue to lead
the company. "Today, we are thrilled to announce our partnership
with Falfurrias," said Hardcastle, Scharf, and Kiser. "This marks a
significant milestone in our company's history. With 15 years of
successful growth and a team of seasoned experts, we are
well-prepared to navigate the dynamic C/ETRM market. We look
forward to leveraging Falfurrias' substantial software and IT
services capabilities to further scale our operations, expand into
new C/ETRM markets, and increase our global reach. This partnership
perfectly complements our strengths, and we couldn't be more
excited about the opportunities ahead as we lead capSpire into the
next stage of growth." Dave Webb,
Managing Director – International, added, "I am thrilled to be
partnering with Falfurrias at what is a significant and very
exciting time for capSpire. With Falfurrias' strategic support we
are well positioned to further accelerate our growth
internationally."
"We are excited about partnering with Jeff, Jim, Mike, Dave, and
the entire capSpire team in this next phase of expansion and
development. We believe the company's expertise in core C/ETRM
platforms help provide differentiated insights to customers.
Furthermore, capSpire continues to lead the sector with innovation,
including the Operations Support offering that ensures
end-to-end customer satisfaction across all stages of
implementation and operation," said Cam
Dyer, Partner at Falfurrias. Kevin
Hesselbirg, former CEO of OpenLink Financial and an Industry
First executive with Falfurrias, will serve as capSpire's Chairman,
bringing more than 25 years of experience leading and growing
software and services businesses.
Equity for this investment comes from Falfurrias Growth Partners
I, a growth buyout strategy launched by Falfurrias in 2023 and
builds on the firm's experience in the commodity services
sector.
Hall Estill, Philip Lee LLP, and Lopp Law Firm provided legal
counsel to capSpire. McGuireWoods LLP served as legal advisors to
Falfurrias.
About capSpire
capSpire has distinguished itself as a
premier provider of consulting services for commodity reliant
organizations across the globe with implementation, customization,
optimization, and management of major installations of C/ETRM
software platforms. capSpire serves as the true provider of
consulting services informed by best practices, implementation of
new processes and technologies, and operational support for
continuous improvement. capSpire's team includes over 250
subject matter experts that help commodity-focused organizations
drive technological innovation and solve complex business problems.
For more information, visit www.capspire.com.
About Falfurrias
Falfurrias Growth Partners is an
operationally focused middle-market private equity fund focused on
investing in high-growth companies in the software and business
services sectors. The team is comprised of investors and proven
operators, as well as in-house resources across strategy &
market insights, finance / integration, human capital, and
technology. The new fund strategy was launched in 2023 and is led
by Cam Dyer, Partner and Chairman of
Falfurrias Growth Partners I's investment committee. The fund is
managed by Falfurrias Management Partners, a Charlotte-based private equity firm founded in
2006 by Hugh McColl Jr., former
chairman and CEO of Bank of America; Marc
Oken, former CFO of Bank of America; and Managing Partner Ed
McMahan. The firm has raised $2.2
billion across six funds and invests in growing,
middle-market businesses in sectors where the firm's operational
resources, relationships, and sector expertise can be employed to
complement portfolio company executive teams in support of growth
objectives. For more information, visit www.falfurrias.com.
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SOURCE Falfurrias Management Partners