COLUMBUS, Ohio, March 17, 2021 (GLOBE NEWSWIRE) -- ARCOS® LLC, the market leader for utility and critical infrastructure resource-management solutions, today announced it has signed a definitive agreement to receive a majority investment from Vista Equity Partners, a leading global investment firm focused on market-leading enterprise software, data and technology-enabled businesses. ARCOS and Vista will partner to accelerate investment in hiring, continue driving innovation in its core products and expand its suite of offerings – solving the toughest resource management challenges for utilities and other critical infrastructure industries.
Since 2005, ARCOS’ technology has helped hundreds of the largest electric and gas utilities and airlines manage their crews and resources, especially in unplanned scenarios where resources are needed on short notice. ARCOS helps these organizations identify which crews and resources are available, reduce the time needed to assemble crews and perform callouts, and confront a host of other resource-management challenges such as overseeing contractors and managing service disruption incidents.
“For essential workers in industries like utilities and critical infrastructure, the ability to assess resources and respond quickly can make the difference between success and failure,” said Bruce Duff, CEO of ARCOS. “With Vista’s partnership, we will continue to bring our best-in-breed technology solutions to these industries, as well as explore new areas for product expansion and help our clients continue to modernize practices and processes, so they can respond and restore services quickly. We are thrilled to have Vista’s backing as we chart our next chapter.”
“The partnership between ARCOS and the utility industry has been one of collaboration that has provided us with solutions to effectively respond to, restore and report both planned and unplanned events that occur every day of the week," said John Tyler Anthony, senior vice president and chief operating officer of Pepco Holdings. "We look forward to continuing to work with ARCOS as they begin their new partnership with Vista Equity Partners, and we appreciate their continued focus to expand their products and ensure comprehensive resource management capabilities for us and other critical infrastructure industries. Providing safe, reliable and affordable service is the industry's primary mission and having technology providers like ARCOS is critical to our collective success."
“Bruce and his team have built an indispensable business by helping their customers be nimbler and more responsive in managing their resources,” said Patrick Severson, senior managing director in Vista’s Foundation Fund. “ARCOS’ customers are providing power, water, gas and other essential services to people across North America, and these customers rely on ARCOS to keep those services online. The ARCOS team is extremely driven by this mission, and we are excited to help them have an even greater impact by investing in their people, products and customers.”
ARCOS and Vista Equity Partners expect the transaction to close in the second quarter of 2021. The investment by Vista follows The Riverside Company’s investment in ARCOS in 2013. William Blair & Company and Lightning Partners served as the financial advisor to ARCOS and The Riverside Company, and Harris Williams & Co. served as the exclusive financial advisor to Vista Equity Partners. ARCOS management will remain meaningful shareholders of the company along with Vista Equity Partners.
About ARCOS LLC
ARCOS is a leader in delivering SaaS solutions for managing resources, ensuring accurate, compliant shift scheduling and automatically planning for all types of events. The ARCOS solution reports on the up-to-the-minute location and status of equipment and crews via mobile technology for utilities and other critical infrastructure like airlines, manufacturers and industrial facilities. The ARCOS resource management platform helps organizations save time and money, while improving customer satisfaction and the efficiency, safety and accuracy of operations. Learn about ARCOS resource management software at http://www.arcos-inc.com. Follow ARCOS on LinkedIn, @ARCOS LLC, and Twitter, @ARCOS
About Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management as of September 30, 2020. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and Twitter, @Vista_Equity.