Pamlico Capital and the management team of Dexter & Chaney, Inc. announced today that Pamlico has made a growth equity investment in the company. CEO and Founder, John Chaney, along with President, Norbert Orth, and other executive management team members will retain significant ownership of Dexter + Chaney and will continue to manage the growth of the company in partnership with Pamlico. Pamlico typically makes growth equity investments of up to $100 million alongside proven management teams in its target industries.
Mr. Orth noted, “This investment by Pamlico will allow us to put more dollars to work in our growth initiatives, including broadening our product capabilities, deepening integration functionality, and maintaining high-touch customer support. They are committed to partnering with us as we continue to lead the marketplace in delivering a fully integrated suite of cloud-based solutions to address contractors’ needs throughout the construction lifecycle. We look forward to leveraging the expertise and funding of our new partners to further accelerate our growth.”
Pamlico Partner Walker Simmons said, “The management team’s passion for addressing contractors’ needs with quality software applications, and their corporate culture dedicated to outstanding customer service, are both validated by Dexter + Chaney’s industry-leading customer retention rates.” Pamlico Partner Eric Wilkins added, “We are thrilled to be management’s first institutional equity partner. We believe our experience can help the company broaden its marketing reach and actively pursue product expansion through acquisitions.” Dexter + Chaney will represent the fifth investment in Pamlico Capital III, a fund with $650 million of committed capital.
Dexter + Chaney was advised by Lane Powell (legal counsel) and Greene Holcomb Fisher (financial advisor).