Leading transatlantic law firm Womble Bond Dickinson has helped negotiate and close another growth investment in ServiceTrade, a leading provider of software as a service applications for commercial service contractors. JMI Equity, along with existing investors Frontier Growth and Bull City Venture Partners, have made an $85 million investment in ServiceTrade.
D. Scott Anderson and Patrick Strubbe led the multidisciplinary Womble Bond Dickinson team that represented ServiceTrade and Frontier Growth in the deal. The team included corporate partners Jackie Camp and Matt Homan, privacy and cybersecurity team chair Tara Cho, benefits partner Andy Coburn, executive compensation partner Jane Jeffries Jones, intellectual property partner Mike Tobin, and tax partner Mark Wiley. Other key Womble Bond Dickinson corporate team members involved in the transaction included Art Howson and Jake Rifkin.
Founded in 2012, ServiceTrade is a rapidly growing company with more than 800 customers across the fire protection, mechanical, and electrical industries. With this latest investment, ServiceTrade officials say they plan to accelerate development of new product innovations that serve the technology needs of commercial service contractors. The company’s customers manage more than 12,000 skilled technicians and generate nearly $3 billion in annual service contracting revenue.
Frontier Growth provides support for growth – both investment capital and operational expertise – primarily for software companies with $5 million to $30 million in revenue. In recent years, the Womble Bond Dickinson team has guided Frontier’s previous investment in ServiceTrade, as well as numerous other investments, recapitalizations and divestitures.
Click here to read ServiceTrade’s press release on the recent investment.