Global private equity house TA Associates has bought into Fortissimo Capital-backed enterprise resource planning software provider Priority Software.
The company, which was founded in 1986, aims to provide end-to-end cloud-based and on-premises business management solutions to improve business efficiency and customer experience.
They include demand planning, manufacturing operations, financial management, human capital management, procurement and supply chain management.
The Israel-based company has more than 10,000 customers and over 300,000 end users across end markets including manufacturing, construction, healthcare and pharma, services, and retail and wholesale.
TA managing director and EMEA tech group co-head Naveen Wadhera said, “We have been following Priority Software for several years and have been impressed by the quality of the company’s management team and the growth they have achieved to date.
“The ERP market continues to see strong growth globally, driven by a need for operational efficiency and transparency, coupled with increasing adoption of cloud-based solutions.”
TA senior vice president Stefan Dandl added, “Priority Software is considered by many to be a market leader in the Israeli ERP space, and we believe that the company has significant untapped potential.
“Additionally, there is significant opportunity for Priority Software to expand internationally in its addressable market through acquisitive and organic growth.”
Fortissimo Capital managing partner Yuval Cohen said, “As a firm focused on creating value from growth, Fortissimo is proud to have partnered with the Priority Software team and been a part of the company’s rapid growth over the last six years.
“We continue to believe in Priority Software’s growth potential in Israel as a result of its leadership position, loyal customer base and superior technology and its potential to continue driving growth worldwide.”
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