Edmunds GovTech (EGT), a leading provider of ERP software solutions to local government, announced a significant growth investment from TA Associates (a leading global private equity firm). LLR Partners (originally partnered with EGT in 2018) will continue to invest in the company.
Launched in 1972 and based in Northfield, New Jersey, EGT delivers an integrated suite of dynamic and easy-to-use software solutions to local governments and utility authorities across the US. And its products and services are specifically tailored to meet municipality needs, focusing on increasing efficiencies in financial accounting, budgeting, revenue collection, personnel management, and permitting and code enforcement. Over 2,100 municipalities and authorities across more than 20 states leverage EGT’s technology.
TA’s investment in EGT complements the firm’s experience in scaling vertical market software businesses and founder-owned companies. This partnership will provide expansion capital and valuable guidance to EGT’s team, helping the company to support innovation and expedite the completion schedules of several key projects.
The financial terms of the investment were not disclosed.
KEY QUOTES:
“For more than 50 years, EGT has maintained a customer-centric approach, focused on delivering high-quality products that empower local government digital transformation. I am confident that TA shares our culture, vision, and commitment to excellence. Their partnership will enable us to continue our growth trajectory, further enhancing our ability to serve customers. I am excited to welcome TA to the EGT family.”
- Bob Edmunds, CEO and Executive Chairman at EGT
“EGT has firmly established itself as a key player in the ERP software market, providing innovative solutions that enable local governments to streamline operations, increase productivity and put their citizens first. We see significant opportunities to build upon the Company’s strong product offering and look forward to working with Bob and LLR to accelerate geographic expansion and unlock expanded customer value.”
- Ashutosh Agrawal, Managing Director at TA
“During the first five years of our partnership, EGT has more than doubled its client base of local government agencies as the result of continuous innovation, organic growth and transformative acquisitions. We look forward to working with Bob and the teams at both EGT and TA to help the company capitalize on its next growth opportunity.”
- David Reuter, partner at LLR Partners
