News

NexPhase Capital LP has made an investment in Brandt Information LLC, a provider of SaaS recreational licensing solutions for local, state and federal government agencies. No financial terms were disclosed. VRA Partners LLC was financial adviser to Brandt on the transaction while Lowenstein Sandler LLP provided legal counsel to NexPhase.

PRESS RELEASE

New York, NY – July 30, 2018 – NexPhase Capital, LP (“NexPhase”) and Brandt Information Services, LLC (“the Company” or “Brandt”) announced today NexPhase’s investment in Brandt, a provider of Software-as-a-Service (“SaaS”) recreational licensing solutions for local, state and federal government agencies to administer the issuance of fishing, hunting and other recreational licenses and permits.

Brandt is a fast growing provider of recreational licensing software solutions. The Company’s innovative SaaS platform combined with extensive domain expertise enable government agency customers to enhance revenue streams, drive efficiency and reduce costs by digitizing and automating manual processes and workflows. In addition, Brandt also offers state transportation agency permitting services, as well as information technology staffing and consulting services for state and local government agencies. The Company was founded in 1985 and is headquartered in Tallahassee, Florida.

“Our partnership with NexPhase comes at a tremendous period of opportunity for our Company,” said Brandt CEO, John B. Thomas. “Demand for recreational hunting and fishing licenses has grown consistently over the past decade and we find customers increasingly relying on superior technology solutions and service on which Brandt prides itself. We believe that by partnering with the NexPhase team, Brandt will be able to leverage their resources and expertise to continue to innovate and provide the very best systems to its growing number of customers.”

“We believe Brandt’s innovative technology and superior customer service have driven the Company’s reputation as a best-in-class SaaS provider with extensive domain expertise,” said NexPhase Partner Joel Killion. “We are very excited to be partnering with Brandt’s management team in order to help the Company scale through continued investment in its SaaS offering, talent and infrastructure. Brandt’s opportunity is a great example of a theme we see for vertical B2B software companies, with modern, high quality, and niche specific offerings, to benefit from the ongoing need to refresh aging IT infrastructure.”

Mr. Killion will join the Company’s Board of Managers alongside other members of the NexPhase team. The NexPhase team will work closely with Brandt’s leadership team to execute strategic and operational initiatives designed to continue capturing market share, enhancing client relationships, and growing the overall business.

Brandt is the latest investment for NexPhase and joins the firm’s growing portfolio of software companies which includes InsideRE, a leading SaaS provider of cloud-based marketing software for residential real estate agents and brokers, Insurance Technologies, a leading provider of sales lifecycle management platforms to the life insurance and annuity industry, and Flexible Architecture and Simplified Technology (FAST), a provider of core software solutions to the life insurance and annuity industry. As a firm, NexPhase has announced three new platform investments thus far in 2018.

VRA Partners, LLC acted as financial advisor to the Company and Lowenstein Sandler LLP provided legal counsel to NexPhase on the transaction.
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About Brandt Information Services
Since 1985, Brandt Information Services has provided local, state and federal agencies, as well as private organizations, with innovative solutions to maintain large-scale technology projects, streamline business processes, manage a variety of transaction systems and support agency operations. The Company consists of two divisions: Outdoor Licensing & Recreational Solutions and Technology Project Management & Staffing Solutions. These divisions work together to not only build and implement business processes through cutting edge technologies, but to implement creative ideas to make their customers leaders in their respective industries.

About NexPhase Capital
NexPhase Capital is an operationally-focused independent private equity firm that makes equity investments between $25 million and $75 million in lower middle market, growth-oriented companies in the consumer, healthcare, industrial services and software sectors. The firm was formed by the former principals of Moelis Capital Partners to execute, on an independent basis, the same operationally-focused strategy of completing control investments in lower middle market companies to create value through dedicated operating resources, new sales channels and effective partnerships. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase advises $1.2B of private equity capital and maintains a strategic sub-advising relationship with Moelis Asset Management. For more information, please visit www.NexPhase.com.