Texas-based private equity firm Teakwood Capital has hired serial software company entrepreneur Kevin Klausmeyer as an executive partner.
Teakwood said he would provide strategic and tactical counsel to its portfolio company management teams and expand the firm’s presence in the Houston market.
Klausmeyer previously worked as CFO of technology enterprises including The Planet, which merged with SoftLayer, RLX Technologies, which was bought by Hewlett Packard, and PentaSafe, which was acquired by NetIQ.
He was also previously on the board of Quest Software, which was a buyout target for Vector Capital and Insight Venture Partners before they were trumped by a $2.4bn deal.
Teakwood generally invests at least $2m in technology-enabled products and services with revenues below $25m.
Earlier this year the firm exited its minority stake in consumer debt purchaser Global Acceptance Credit Company (GACC).
Following teakwood’s investment GACC expanded into new markets and grew its operations, achieving a compound annual growth rate of 45 per cent.
At the time of Teakwood’s exit GACC owned and managed over $1bn in assets.
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