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Portico Capital Advises TradePending on its Majority Recapitalization by The CapStreet Group

February 15, 2021
New York, NY 

Portico Capital is pleased to announce that it served as the exclusive financial adviser to TradePending on its majority recapitalization by The CapStreet Group.

TradePending is a category leader of trade-in and merchandising intelligence solutions for automotive dealerships that brings accuracy, transparency, and simplicity to both their customers and consumers alike. The solution leverages vehicle pricing data to enable digital retailing, optimize online conversions, and maximize profitability for trade-in vehicles.

“In only six years since Brice Englert founded TradePending, the Company quickly established itself as an industry leader in SaaS automotive trade-in and merchandising intelligence solutions,” said Eric Denlinger, Partner at Portico Capital. “This partnership with CapStreet positions TradePending to accelerate into its next stage of growth and unlock the full potential of the Company. It was a pleasure working with TradePending and CapStreet on this transaction and we are excited to watch the Company’s continued growth.”

Brice Englert, Founder & CEO of TradePending, said, “When I first met Eric Denlinger and the Portico Capital team, it was clear that they were as vested in the automotive sector as my own career. That was incredibly important to me and TradePending, as we sought to find an outcome that set the stage for our next phase of innovation and growth. The Portico team understood our products and our mission from the outset and created a process that allowed us to select the opportunity with the highest potential growth. I personally learned more from working with the Portico team than I had initially imagined. TradePending is a better company after Eric, Andrew, and Jack's expert work, counsel, and disciplined process. It was a pleasure to work with Portico.”

A more detailed description of the transaction is included with the Company’s press release below:

The CapStreet Group Announces Investment in TradePending

Houston, TX | Founded in 2014 and headquartered in Carrboro, North Carolina, TradePending’s mission is “simple automotive”. The Company builds software for car dealerships that brings accuracy, transparency, and simplicity to both their customers and consumers alike. The solution leverages vehicle pricing data to enable digital retailing, optimize online conversions, and maximize profitability for trade-in vehicles.

“From the outset, we were impressed with the CapStreet team. They took the time to not only understand the industry and our business model, but also the culture and spirit that makes our company tick,” said Brice Englert, TradePending’s CEO. “With this new partnership we’re setting the stage for accelerated organic growth. As we continue to build a scalable organization, that opens up opportunities for us to explore new areas within automotive as well.” Englert added, “Our dealer customers continue to face a more competitive market than ever, especially in pre-owned, that necessitates solutions to help them source, manage, merchandise and sell used and new inventory. TradePending has given thousands of dealers a competitive edge for seven years, and this partnership with CapStreet will allow us to be more innovative and aggressive than ever before.”

Adrian Guerra, Partner with CapStreet, commented, “TradePending is a dynamic company that has created significant growth momentum due to its unique value proposition. Brice and the rest of the management team have done a great job building the business, and we look forward to partnering with them in the next phase of growth.” Chas Richard, a Vice President with CapStreet, added, “TradePending has tremendous potential as a platform with numerous opportunities to expand and enhance its solutions through internal investments and add-on acquisitions.”

TradePending is the second investment for CapStreet V, LP, which has $500 million of committed capital.

The CapStreet team for the TradePending investment also included Rob Madorsky and Evan Harmon.

Portico Capital served as the exclusive financial advisor to TradePending. Willkie Farr & Gallagher served as CapStreet’s legal counsel, while Robinson Bradshaw served as legal counsel for TradePending.

About The CapStreet Group
The CapStreet Group is a Houston, Texas based private equity firm that invests in owner-managed, lower middle market companies. CapStreet targets companies operating in the outsourced business service sector and the industrial distribution, services and manufacturing sectors. CapStreet’s approach is to partner with excellent management teams to build out corporate infrastructure, accelerate growth and profitability, and create long-term sustainable businesses. For more information, please visit https://www.capstreet.com/.

About Portico Capital 
Portico Capital provides independent strategic and financial advisory services in the areas of mergers & acquisitions (M&A), recapitalizations and capital raisings exclusively to private and public companies in the global information and business services/software sector.  The firm, founded in 2000, has offices in Greenwich, Connecticut; New York, New York; and London, England. For more information, please visit http://www.porticocapital.com/.

PORTICO CONTACTS
S. Searcy Dryden, Managing Partner
searcy@porticocapital.com
203.661.7719
 
Eric Denlinger, Partner
eric@porticocapital.com
203.661.7523