WolfePak Software, a portfolio company of Fort Point Capital, has acquired software company LandPro.
LandPro is used by small to mid-size independent oil and gas companies to manage contracts, leases, and well and mineral rights. The company’s flagship products include Visual LandPro 2000, LandPro Express, Coal Mining Revenue Distribution program, and Map Suite GIS LandPro Edition. LandPro was founded in 1990 by CEO Luigi Ballatori and is headquartered north of Houston in Spring, TX (www.landpro.com).
All LandPro employees have joined WolfePak and LandPro’s former CEO, Luigi Ballatori, continues to stay involved in the business as a part-time consultant.
WolfePak Software was founded in 1986 to provide user-friendly accounting software for companies active in the oil and gas industry. The company’s financial, accounting and regulatory compliance software products are used by oil and gas well operators, first purchasers, investors, and service companies located in 43 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).
“We are excited to partner with LandPro to continue expanding the functionality of WolfePak’s best-in-class software offerings,” said Christina Pai, a partner at Fort Point. “We look forward to working closely with LandPro’s employees and customers to provide the exceptional land management experience they have come to expect.”
Fort Point acquired WolfePak Software in June 2016. This add-on acquisition merges WolfePak’s suite of ERP software and LandPro’s land management software products to create an integrated and complete product offering. “The combination of WolfePak and LandPro continues to expand WolfePak’s exceptional oil and gas ERP software suite with the addition of a highly-regarded partner in the land management space,” said Brent Rhymes, CEO of WolfePak. “LandPro allows WolfePak to offer its customer base a more complete and integrated land management solutions offering, together with WolfePak’s core ERP software.”
The buy of LandPro is WolfePak’s second add-on in the past eight months. In July 2018, WolfePak acquired Conquest RT, a SaaS provider of real-time tracking, dispatching, and reporting capabilities to crude oil haulers and oil and gas related water transportation companies (www.conquestrt.com).
Fort Point invests from $10 million to $30 million of equity in service-oriented, lower middle-market companies that have enterprise valuations of $20 million to $75 million. Sectors of interest include business services, healthcare services, information & software, and transportation & logistics. Fort Point was founded in 2010 and is based in Boston (www.fortpointcapital.com).
© 2019 Private Equity Professional | March 25, 2019
