Acquisition enables Vertex to broaden its utility industry impact while enhancing value to customers and stakeholders
RICHARDSON, Texas–(BUSINESS WIRE)–Vertex Group, a leader in utility Customer Information System (CIS) solutions, announced its acquisition by DFW Capital Partners, a leading private equity investment firm for middle-market companies. Through this new ownership, Vertex’s future growth plans will be supported with market expansion, growth of its existing solution suite, and a more aggressive on-ramp to capitalizing on critical market share.
“We are thrilled to announce a new chapter at Vertex with DFW Capital Partners,” said Andrew Jornod, CEO of Vertex Group. “This change in ownership enables Vertex to further grow and invest in our solutions and capabilities, while allowing us to continue proactively identifying market segments that can derive value from our cloud CIS and our Customer Experience technologies.”
Vertex has been providing customer service solutions to the utility industry since 1996, currently serving a roster of over 36 customers ranging from public or privately-owned water, gas, electric, and wastewater utilities. These clients demand a best-in-class, tier 1 CIS experience tailored to meet their customers changing preferences and increasing expectations and technology advancements.
In 2014, Vertex launched the VertexOne™ Cloud CIS, a purpose-built solution that addresses specific concerns around customer expectations, aging infrastructure, budget constraints for both capital and operational expenses, and quicker time-to-value through a shorter implementation methodology founded on the core principle of reduced risk. Built on SAP S/4HANA™ technology, VertexOne™ brings a proven, modern experience that lowers total cost of ownership and overall risk while driving ROI. In April 2019, Vertex’s 12-month implementation project with DC Water was recognized with the Best CIS Implementation award at CS Week 2019 based on its innovation, improved service levels, budget and schedule adherence, and more.
“DFW is thrilled to partner with Vertex and its management team at an exciting time in the utility industry. Increasing regulatory requirements around customer service levels, coupled with the rise of consumerism in utility purchasing, is coinciding with a continued ageing of existing CIS infrastructure,” said Keith Pennell, managing partner at DFW Capital Partners. “The VertexOne™ platform addresses numerous pain points for mid-tier utilities who want full functionality, today and in the future, but lack the budgets, internal expertise, or timeline to adopt customized tier-one solutions like SAP and Oracle.”
Dedicated solely to the utility industry, Vertex Business Services has been a recognized leader in customer experience solutions for the past 20 years. Vertex serves nearly 10 million end customers for more than 30 electric, gas and water clients across North America. Through a wide range of innovative services and solutions—including the VertexOne™ cloud platform inclusive of CIS, MWM, MDM, and Customer Self Service—Vertex helps utilities more efficiently deliver a compelling customer experience while also driving utility operations forward. Vertex takes on the heavy lifting of keeping current with the rapid pace of technology changes, so utilities don’t have to—leaving our customers more time to focus on core utility business while leaving the technology to us. For more information, visit https://www.vertexone.net.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland.
Mary Brynn Milburn
(972) 332 0143