Will serve as a platform for Capstreet’s future industry investments
The Capstreet Group (“Capstreet”), a Houston-based lower middle market private equity firm, announced that it has acquired hh2 Cloud Services (“hh2” or “the Company”), a leading provider of software for the construction industry. Financial terms of the transaction were not disclosed.
Founded in 2004 and based in Kaysville, UT, hh2 is a provider of modular software solutions that help construction companies effectively manage their field employees and operations, with streamlined integration into their primary ERP system software. hh2’s solutions allow contractors to perform essential business functions such as payroll, invoice routing and approval, applications for payment, compliance, daily logging, dispatch, and various HR tasks with greater ease, efficiency and productivity. The Company’s software integrates with leading construction ERP platforms and multiple Project Management Software platforms. CEO Devon Dorrity and the senior management team will remain with the Company.
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“We’re impressed with hh2’s powerful technology and integration capabilities, supported by a talented team, which makes it a strong platform from which to build our future construction software investments,” said Paul De Lisi, Partner at Capstreet. “Demand for software solutions in this industry has been growing significantly as companies look for ways to improve their operational efficiency. We look forward to working with Devon and the entire hh2 team as we seek to grow the business both organically and through strategic acquisitions.”
“We’re excited to partner with the Capstreet team, leveraging their experience and resources to help us take advantage of new market opportunities and further our growth,” said Mr. Dorrity. “Capstreet’s support will be a game-changer for hh2 as we look to add complementary solutions and expand our reach, while continuing to deliver valuable technology and services to our partners and customers.”
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