Perennial Software Acquired by Service Commerce Platform EverCommerce
Perennial Software confirmed it has been acquired by EverCommerce, a company out of Denver with a number of field service management companies in its portfolio.
This acquisition marks EverCommerce’s first foray into the security industry, with HVAC, plumbing, electrical, marketing and other field service-type companies already part of its offering. SDM spoke with Michael Marks who, along with Don Faybrick, co-founded Perennial Software, known for its software brands SedonaOffice and AlarmBiller.
Both co-founders will be staying on, taking more senior executive roles. They will no longer be involved in the day-to-day, hands-on management as they were before, but their positions are open-ended, and they expect to be involved with the company for a long time. Going forward, Perennial Software will be run by the Perennial Software management team, many of whom have been with the company for more than 15 years. There are no new people or new management structure coming in to run it.
Perennial Software expects continued growth to be the plan after the acquisition. Software users, many of whom are SDM 100 dealers, should expect the same level of service and attention to detail they are accustomed to, with the expectation that resources and support will only improve, according to the company.
Perennial Software plans to continue hosting its annual Users Conference, and, in fact, its next two conferences are already scheduled in January 2019 and 2020 in Marco Island, Fla., at the JW Marriott.
Fabrick and Marks ran and operated the business for 25 years, and when EverCommerce approached them, the timing was right. The acquisition will also afford the company an opportunity to grow the business.
SPP Advisors LLC represented Perennial Software in this transaction. Mark Sandler, managing director and co-founder of SPP, said, “Perennial Software’s products, Sedona Office and Alarm Biller, are an excellent fit with EverCommerce’s existing portfolio of companies, which will allow significant opportunity to grow the Perennial Software business as well as the opportunity to sell Perennial’s products across other vertical markets in which EverCommerce already has relationships.”
Sandler called EverCommerce’s desire to keep the existing management team intact and continue to operate the Perennial business in its current locations with all the current employees an important aspect of this transaction, adding, “Michael Marks and Don Faybrick have built a terrific company and we were very pleased that we were able to close a transaction with EverCommerce, a company that shares Michael and Don’s vision for the future of Perennial Software.”