Tuesday, September 11, 2018

Genstar Capital Sells Accruent To Fortive For $2.0 Billion

San Francisco-based private equity investor Genstar Capital said on Tuesday that it has sold one of its portfolio companies, Accruent, to publicly held Fortive Corporation, in a deal worth $2.0 billion in cash. Accruent is a developer of physical asset management software, and is based in Austin, Texas. According to Genstar, Accruent doubled its revenues and acquired nine companies, as well as "rapidly expanded international growth" during its ownership for the last two years.