SSP Innovations, a provider of IT services to utilities and a portfolio company of Warren Equity Partners, has acquired TC Technology.
TC Technology’s mobile software provides geospatial information to field staff to support service orders, work orders, system inspections, and to manage maintenance and compliance activities. The company’s customers include electric, gas, and water utilities, municipalities, cooperatives, private companies, and engineering firms. TC Technology was founded in 2000 and is headquartered in Carlsbad, CA (www.tctechnology.com). Jason Linley, the President and owner of TC Technology, will join SSP as Director of Mobile Product Management.
SSP Innovations provides IT services and software development – with a specialty in geographic information systems (GIS) and workforce management – to electric, gas, and water utilities, as well as oil & gas pipeline operators and telecommunications providers. The company was acquired by Warren Equity in April 2017 and is headquartered in Centennial, CO (www.sspinnovations.com).
“SSP had an overarching goal to add a mobile offering to our GIS business, and our longstanding relationship with TC Technology made them the perfect fit,” said Skye Perry, CEO of SSP. “Organizations of all types are becoming increasingly dependent on their GIS-specific data and applications, which combined with an industry shift to a more mobile utility workforce, results in a need for integrated mobile applications for field operations.”
The buy of TC Technology is the third add-on acquisition by SPP under Warren Equity ownership. In April 2018, SPP acquired Milwaukee-based Wind Lake Solutions, a provider of geographic information systems to utilities, telecommunication providers, and municipal government organizations; and in June 2017, SPP acquired Paleon Solutions, an IT services provider based in Castle Rock, CO.
“We are excited to complete our third add-on acquisition to the SSP platform in a little over a year of ownership,” said Scott Bruckmann, Partner at Warren Equity Partners. “We believe adding TC’s mobile software and product development capabilities will add tremendous value to our customer base.”
With the support of Warren Equity, SSP plans to continue to expand its service offerings and geographic footprint through a combination of organic growth and add-on acquisitions.
Warren Equity invests from $5 million to $40 million in North American-based companies with $3 million to $15 million of EBITDA. Sectors of interest include industrial and business services with a specific focus on infrastructure maintenance and repair. The firm is headquartered in Jacksonville Beach, FL (www.warrenequity.com).
© 2018 Private Equity Professional | July 16, 2018