Next Gear Solutions Forms Strategic & Financial Partnership with Private Equity Firm
Serent Capital's investment aims to support Next Gear's continued growth in restoration software sector
March 10, 2016
Serent Capital, a San Francisco-based private equity firm focused on investing in growing, profitable industry leaders, has partnered with Next Gear Solutions, a leading provider of job management and workflow software to the construction restoration industry. Next Gear’s SaaS platform is used by thousands of restoration contractors to manage all aspects of their restoration businesses. The investment will provide Next Gear with a strategic and capital partner to support continued growth.
“Next Gear weighed the decision to partner with Serent very carefully,” said Garret Gray, President and CEO of Next Gear. “Their alignment with our values and customer focused management philosophy drove our decision. We are excited for what this partnership will mean for our customers and the restoration industry in general as we are now better positioned to accelerate our product and service offering.”
Next Gear’s mission is to leverage technology to increase operating transparency, promote growth, and improve quality and efficiency for restoration contractors. According to Gray, Next Gear’s solution is the market leader, utilized by thousands of contractors including 4 of the top 5 franchisors in the restoration industry. Customers choose Next Gear’s integrated platform to streamline multiple facets of their companies from job management and workflow to contact management and marketing.
Next Gear also created DryTrack, an intelligently designed moisture mitigation management application. Collectively, Next Gear’s suite is the most comprehensive system available to help restoration companies grow and manage their businesses.
“We are thrilled to have the opportunity to partner with Next Gear. Garret and his team have built the industry leading job management solution for the restoration market, and they are spearheading the secular shift in the industry away from paper towards solutions that help restoration companies increase revenue and improve efficiency.”
Serent’s investment in Next Gear was the culmination of its continued research in the residential home field services and construction industries. Serent continues to pursue opportunities that help bring technologies, services, and efficiency to this growing and fragmented market.