- Global growth private equity firm TA Associates announced it has completed a significant growth investment in Priority Software Ltd.
Global growth private equity firm TA Associates announced it has completed a significant growth investment in Priority Software Ltd. TA is joining existing Israel-based investor Fortissimo Capital as an institutional investor in Priority Software. The financial terms of the transaction were not disclosed.
Launched in 1986, Priority Software provides end-to-end cloud-based (SaaS) and on-premise business management solutions for organizations of all sizes to improve business efficiency and customer experience. And the company’s Priority PRO product offers comprehensive ERP software for medium to large organizations encompassing demand planning, manufacturing operations, financial management, human capital management, procurement, and supply chain management.
Plus Priority Software also provides business management software for smaller companies that focuses on financial management, reporting, and accounting. And the company has more than 10,000 customers and over 300,000 end-users across multiple end markets, including manufacturing, construction, healthcare and pharma, services, and retail and wholesale. Priority Software has over 200 employees located across five offices in Israel, the US, the UK, and Belgium.
KEY QUOTES:
“TA’s extensive experience investing in the enterprise software space and in partnering with growing companies like Priority Software made the firm an attractive investment partner. We’ve identified opportunities to accelerate our growth and further expand Priority Software’s market penetration both nationally and internationally, and we believe that TA will be a valuable partner for us alongside Fortissimo to help us realize our ambitions.”
— Andres Richter, CEO of Priority Software
“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. We look forward to partnering with the Priority Software and Fortissimo teams in these growth efforts.”
— Stefan Dandl, a Senior Vice President at TA Associates — who has joined the Priority Software Board of Directors
“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. We believe that Priority Software’s flexible, innovative and high-quality products make it well-positioned to capitalise on these opportunities, and we are pleased to become an investment partner alongside Fortissimo as the company enters its next stage of growth.”
— Naveen Wadhera, a Managing Director and Co-head of the EMEA Technology Group at TA Associates who has joined the Priority Software Board of Directors
“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. We are excited to welcome TA as a new partner to further accelerate Priority Software’s growth.”
— Yuval Cohen, Managing Partner at Fortissimo Capital
