ARI announces strategic growth investment from TA Associates
ARI Network Services, Inc., announced it has received a strategic growth investment from TA Associates, a leading global growth private equity firm. True Wind Capital, a San Francisco-based private equity firm that completed a take-private transaction of ARI in August 2017, will remain the largest shareholder in the company. Financial terms of the transaction were not disclosed.
Founded in 1981, ARI provides lead-generation, e-commerce, digital marketing, electronic catalog and dealer management solutions to dealers in end markets such as power sports, outdoor power equipment, marine, recreational vehicle, tire and wheel, aftermarket auto service, appliances and home medical equipment. The company’s suite of products are mission critical in helping dealers drive sales and manage operations. ARI has offices throughout the United States and around the globe.
“We are thrilled to complete an investment in ARI and help build upon the company’s outstanding record of supporting dealerships’ end-to-end technology needs,” said Ashutosh Agrawal, a managing director at TA Associates who will join the ARI Board of Directors. “We are confident that ARI is well positioned to continue to grow organically and through strategic add-on acquisitions, and look forward to contributing additional resources to support the ongoing momentum of the company.”
“ARI was built on the basis that manufacturers, distributors, dealers and service providers deserve premier solutions to automate and enhance their businesses,” said Roy W. Olivier, president and CEO of ARI. “In keeping with our roots, we believe it is critical to have value-add partners in place who are aligned with and supportive of our mission and goals. With True Wind retaining a significant stake in the business and TA Associates coming on board as a new partner, we feel fortunate to have two highly regarded investors at our side as we seek to continuously innovate and improve our suite of data-powered technology tools to enable our customers to drive sales. It is a pleasure to welcome TA to the ARI family.”
“We have thoroughly enjoyed our relationship with the entire ARI team since we successfully took the company private 18 months ago,” said Adam Clammer, a founding partner of True Wind Capital. “We are delighted to continue our relationship with ARI and are eager to begin working collaboratively with TA to help the company in its next phase of growth.”
In addition to Ashutosh Agrawal, Nicholas D. Leppla, a vice president at TA Associates, will join the ARI Network Services board of directors.
