We are happy to announce some exciting news at Next Gear Solutions. We have decided to partner with Serent Capital, a Private Equity firm in San Francisco, CA. This partnership represents the latest in a series of humbling confirmations that the Next Gear team is on the right path and has a lot of opportunity to innovate in the Restoration Management industry. A unique aspect of Next Gear has always been that we are closely held with our employees tied to the equity we are building. This partnership with Serent Capital has not changed that structure but has enhanced it. We in the past avoided many other Private Equity firms out of fierce protection to our customer-driven development, management philosophy, and internal culture. Getting to know Serent and their core values changed our view on what a partnership like this could do for our company, our clients, and the industry at large. We are excited about what a partnership like this will allow us to accomplish and look forward to our clients feeling the positive impacts as we work to once again raise the bar in innovation, service, and delivery.
Over the last several years, Next Gear’s commitment to delivering exceptional value to its customers has been rewarded with strong growth. As Next Gear looks to the future, our goal remains finding ways to continue to innovate and deliver even more value to our customers through innovative software and industry-leading services.
Serent Capital is a principles-driven organization made up of highly capable people who have experience as CEOs, strategic advisors, and board members for successful, growing companies. Serent invests in growing profitable technology and service businesses with distinct business models and strong existing management teams. Their desire to invest in Next Gear stems from their conviction that our company delivers exceptionally compelling value to our clients. They believe, as we do, that our best years are still ahead of us and that enhancing our ability to serve the needs of our customers by providing additional capabilities and services is fundamental to our future success.
It is important to clarify that the original ownership in Next Gear has retained a controlling interest, and Serent’s investment only represents a 30% stake. Additionally, Garret Gray will be continuing in the role as CEO of Next Gear with his entire team – the same team that has built and brought you the restoration industry’s premier job management software.