GI Partners has completed its acquisition of MRI Software, a provider of real estate property and investment management software products, from Vista Equity Partners.
MRI’s software products are used for property-level management and accounting to complex, long-range financial modeling and analytics in both the commercial and multifamily real estate markets. MRI’s software has been installed over 4,500 times in five continents and in 41 countries. The company was founded in 1971 and was acquired by Intuit in 2002 and renamed Intuit Real Estate Solutions (IRES). In 2009 Vista Equity Partners acquired IRES and renamed the company MRI Software. The company is headquartered south of Cleveland in Solon, OH and has international offices in Toronto, London, Sydney, Singapore, and Hong Kong (www.mrisoftware.com).
GI Partners invests from $50 million to $250 million in companies with enterprise values of $100 million to $750 million. Sectors of interest include technology, media & telecommunications, healthcare, retail & leisure, and financial & real estate services. The firm was founded in 2001 and is based in San Francisco (www.gipartners.com).
Shea & Company (www.shea-co.com), a technology-focused investment bank with offices in Boston and San Francisco, acted as financial advisor for MRI.
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-24-15
