1stWEST M&A Served as the Sell-Side Advisor to eCondoSystems. This is the 4th in a Series of Software Company Sales That 1stWEST M&A Has Recently Brokered
Evergreen, CO October 17, 2017: 1stWEST Mergers and Acquisitions, a leading investment banking and sell-side mergers and acquisition advisory, today announced that it has brokered the sale of yet another construction management software company. (Read the full MRI Software press release here.)
Serving as the seller’s exclusive representative, 1stWEST M&A brokered the sale of eCondoSystems to MRI Software, a strategic partner of TA Associates. MRI Software is a leading provider of innovative real estate software applications and hosted solutions.
“It’s hard to overestimate the role 1stWest M&A played in driving the acquisition of eCondoSystem by MRI Software to a successful close. When eCondoSystem was prepping the deal for the market, the 1stWest team helped condition our financial statements, provided great market analysis, and even helped us rewrite and redesign our company website in advance of the offering,” said Carlos Alonso, eCondoSystems president. “Through the bid solicitation and auction process, 1StWest helped sort through the offers we obtained, weighing their relative value, until we settled on the acquirer with the best overall value. The 1stWest team then managed the LOI and definitive purchase agreement processes with genuine shrewdness, ceaselessly advocating for eCondoSystems. In the end, we got a great value for eCondoSystems. I couldn’t have asked for a better team to work with than 1stWest M&A.”
eCondoSystems is a comprehensive, Cloud-based workflow and sales management solution for use by developers of condos and multi-family units. The eCondoSystems solution provides a wide array of information management, data collection, reports, and data storage in support of the development, sales, and closing processes.
1stWEST M&A has been extremely active in the construction software M&A sector. The sale of eCondoSystems is the fourth in a series of recent software company sales deals brokered by 1stWEST M&A, including two software companies sold to a subsidiary company of Berkshire Hathaway (NYSE: BRKA; NYSE:BRKB). Specifically, 1stWEST M&A recently brokered or advised on the sales of BuilderMT (to MiTek), Sales Simplicity (to MiTek), BRIX (to Hyphen Solutions / PWP Growth Equity), and now eCondoSystems to MRI Software.
“Today, at the height of the current business cycle, we continue to see very strong valuations. Strategic buyers have repeatedly demonstrated to our team at 1stWEST that they will move quickly to lock up portfolio companies that are a strategic fit,” said John D. Wagner, Managing Director, 1stWEST M&A. “There is a great deal of liquidity in the market and a readiness to deploy it for profitable companies, as we just witnessed with the acquisition of eCondoSystems by MRI Software.”
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modelling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.
About 1stWest Mergers & Acquisitions
1stWEST Mergers & Acquisitions is full-service, international investment banking and advisory firm that is focused on the underserved lower middle-market of companies with sales of up to $100 million. The firm has built a unique business solutions platform of assisting owners and shareholders in selling their company, acquiring another business, or raising growth capital. With Managing Directors in the U.S., Europe, Mexico, Panama, Peru, Brazil, Argentina and Chile, 1stWEST M&A is uniquely positioned to serve its clients around the globe. Learn more: www.1stWestMA.com
Contact 1stWEST M&A Managing Director, John Wagner: (919) 796-9984, or email: [email protected]