Fort Point Capital has acquired WolfePak Software, a provider of financial, accounting and regulatory compliance software to the oil and gas industry.
WolfePak Software was founded in 1986 by Charlie Wolfe, a certified public accountant, to provide user-friendly accounting software for companies active in the oil and gas industry. Mr. Wolfe will continue as CEO of the company and remains a significant shareholder.
WolfePak products are used by oil and gas well operators, first purchasers, investors, and service companies. The company has completed more than 2,500 installs with active users in 41 states and nine countries. In addition to its core software and add-on modules, WolfePak provides technical support, systems conversions, training and hosting services. WolfePak is headquartered in Abilene, TX (www.wolfepak.com).
“I’m excited to partner with Fort Point Capital to take our company to the next level,” said Mr. Wolfe. “With their experience, insight and resources, WolfePak will continue to find ways to improve our software offering and better serve customers.”
“While evaluating WolfePak we were impressed by how well Charlie and his team performed during the current energy environment, further demonstrating that customers consider WolfePak to be critical to their operations, while also saving them valuable time and money,” said Christina Pai, a partner at Fort Point. “We have confidence that the company will continue to excel as additional operators, first purchasers, investors and service providers learn about WolfePak’s merits.”
Fort Point invests from $5 million to $25 million in service-oriented, lower middle-market companies across a range of sectors, including business services, healthcare, consumer, and software & information. Fort Point is currently investing from FPC Small Cap Fund I which closed in 2012 with $93 million in capital. The firm was founded in 2010 and is based in Boston (www.fortpointcapital.com).
Bell Capital Finance – a unit of Bell State Bank & Trust – and GMB Mezzanine Capital provided debt financing for the transaction. RSM (www.rsmus.com) was the financial advisor to Fort Point and Kirkland & Ellis (www.kirkland.com) provided legal counsel.
© 2016 Private Equity Professional • 7-1-16
