Edgenet, a leading provider of cloud-based product content software and home improvement configuration software and services, announced today that Marlin Equity Partners, a global investment firm with over $3 billion in capital under management, has acquired a majority interest in the business. The investment comes following a period of rapid transformation for the company, which was purchased by former Edgenet executives and a local Nashville-based private equity group in June 2014, and subsequently achieved significant growth across its customer base, profitability and workforce.
Edgenet offers a comprehensive suite of SaaS solutions that enable the exchange of detailed product information that can be used by retailers, manufacturers and suppliers to manage product data and streamline sales processes. The company’s PCN software platform allows suppliers to collect, upload and share product information, marketing attributes and logistical data with retailers. Its configuration tools help facilitate and simplify the design, ordering and manufacturing of configurable products including windows, doors, decking and fencing.
Since Edgenet was acquired by current CEO Steve Proctor, Executive Vice President Tim Stafford, private equity firm Resolute Capital Partners and other Nashville investors, the company has experienced a 40 percent increase in recurring revenue growth over nine consecutive quarters and has nearly doubled the number of customers in its network.
“Edgenet is proof of what can happen when you have best-in-class products backed up by a great team,” said Proctor, who added that he and Stafford will continue in their roles of CEO and executive vice president. “Thanks to this combination of people and product, we have consistently experienced strong growth since 2014. We are excited to wrap up our best year ever and 2017 is shaping up to be even better.
“Marlin’s investment further validates the strong value proposition of our business model, and this infusion of capital will allow us to make the investments necessary to position Edgenet for long-term success. This is a red-letter day for our team,” Proctor added.
“Edgenet represents an attractive platform for growth and an industry-leading provider of product content and configuration solutions,” said Jonah Sulak, a partner at Marlin. “We are excited to partner with the Edgenet team and look forward supporting them as they continue to expand the depth and breadth of their products and services into adjacent categories and verticals.”