Clearlake and Vista to Become Partners in EagleView; Additional Capital to Accelerate EagleView's Growth
BOTHELL, Wash., June 27, 2018 — (PRNewswire) — EagleView Technologies ("EagleView®"), the leading provider of aerial imagery and property data analytics, today announced a significant new equity investment in the company to support EagleView's rapid growth and penetration of new market opportunities. Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Vista Equity Partners will become partners in EagleView."We are very excited to welcome Clearlake as our partner to help us continue to accelerate our growth and scale," stated EagleView CEO Rishi Daga. "EagleView now enjoys the substantial backing of two of the most sophisticated technology investors in the world, both of which focus on helping their portfolio companies achieve maximum performance potential. With the combined financial, strategic and operational support of these two premier firms, EagleView looks forward to continued growth within our existing markets, delivering new and innovative data, analytics and workflow solutions and expanding to new markets."
EagleView is a market leader in aerial imagery and machine learning derived property data analytics solutions serving the Government, Insurance, Construction and Energy market segments. Vista Equity Partners, the largest private equity firm exclusively focused on software and data related businesses, first invested in EagleView in 2015 and will remain a significant owner of the company and is committed to its long-term growth and success.
Behdad Eghbali and José E. Feliciano, the Founders and Managing Partners of Clearlake, commented, "Clearlake is looking forward to partnering with EagleView's world-class management team and Vista, and we see tremendous potential to build upon the Company's leadership position. We have been impressed by the Company's strong track record of rapid growth and we look forward to leveraging our O.P.S.® approach to further support EagleView's exciting trajectory."
The new infusion of capital will support the continued rapid scaling of EagleView's new aerial image capture platform, advance its artificial intelligence and machine learning capabilities, launch new data analytics and workflow platforms across all existing market segments, as well as expansion into new markets and geographies.
Brian Sheth, Co-Founder and President of Vista Equity Partners, stated, "Since our investment three years ago, EagleView's array of innovative proprietary solutions – including several newly introduced products made possible by Vista's operational assistance and expanded R&D investments -- have delivered accelerated growth and increased market share. We are thrilled to have Clearlake join with Vista and management to continue driving EagleView's leadership in the market and developing compelling new value-added solutions for EagleView's expanding customer base."
The transaction is expected to close in Q3 2018. Financial terms have not been disclosed. Morgan Stanley Senior Funding, Inc., Barclays, Credit Suisse, Goldman Sachs, and Macquarie Capital will provide fully committed financing for this transaction. Atlas Technology Group, LLC and William Blair are acting as exclusive financial advisers to EagleView and Kirkland & Ellis LLP is its legal adviser. Shea & Company, Evercore and Morgan Stanley & Co. LLC are serving as financial advisors and Greenberg Traurig, LLP and Cooley LLP are providing legal counsel to Clearlake.
About EagleView
EagleView is the leading provider of high-resolution aerial imagery, property data analytics and structural measurements for government agencies, insurance carriers, roofing contractors and energy utilities. Using patented image capture techniques, 3D aerial measurement software and machine learning processes, EagleView helps customers answer questions related to millions of properties throughout the world. With a sixty-petabyte library of oblique and orthogonal Pictometry® aerial imagery dating back to 2001 and the capacity to process tens of thousands of roof measurement reports per day, EagleView enables organizations to reduce field visits and adopt faster, safer and more cost-effective workflows. For more information, contact (866) 659-8439 or visit
www.eagleview.com.
About Clearlake
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $7 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at
www.clearlake.com.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $31 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspectives. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies' realization of their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit
www.vistaequitypartners.com.
MEDIA CONTACTS:
For EagleView
David Snider, Vice President of Marketing
585-444-2572
david.snider@eagleview.com
For Clearlake:
Blicksilver Public Relations, Inc.
Kristin Celauro
+1 732-433-5200
kristin@blicksilverpr.com
or
Jennifer Hurson
+1 845-507-0571
jennifer@blicksilverpr.com
For Vista Equity Partners:
Alan H. Fleischmann
202-776-7776
vista@laurelstrategies.com
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SOURCE Clearlake Capital Group, L.P.
| Contact: |
| Company Name: Clearlake Capital Group, L.P., EagleView Technologies, Vista Equity Partners
Web: http://www.clearlake.com |
