NEW YORK, NYAUGUST 23, 2019
NexPhase Capital, LP (“NexPhase”), an operationally-focused independent private equity firm, today announced the sale of InsideRE Holdings, LLC (“Inside Real Estate”, “InsideRE” or the “Company”), a leading provider of cloud-based real estate software, to Lovell Minnick Partners. Terms of the transaction were not disclosed.
One of the first technology providers in the industry to offer an end-to-end platform with all of the necessary tools to succeed in one place, Inside Real Estate has built, acquired and integrated software solutions that were previously missing in the market. Since partnering with the Company in 2016, NexPhase has worked closely with Ned Stringham, CEO of InsideRE, and the rest of its leadership team to bolster the Company’s position in the residential real estate software sector and grow its impressive platform. With NexPhase’s support, InsideRE integrated a number of highly-complementary businesses, which have greatly expanded the Company’s product suite, appealing to many of the largest real estate brokerages, teams and agents across North America.
“With extensive strategic, operational, and industry expertise, NexPhase has been an invaluable partner for Inside Real Estate as we expanded our platform and grew our customer base,” said Mr. Stringham. “Not only did the team at NexPhase quickly understand the power of our strategy, they also provided meaningful support in securing a number of acquisitions that have been critical to our success and developing the foundational capabilities necessary to support our rapid growth. We look forward to building on this momentum with Lovell Minnick and thank NexPhase for their many contributions to get us here.”
“When we combined Inside Real Estate and Kunversion three years ago, we saw a great opportunity to offer a broad functioning unified platform for both small agent teams and large, multi-region, multi-office brokers alike, and today, we are confident that InsideRE is well positioned for continued success with its expansive product suite,” said Bob Gartland, a Principal at NexPhase Capital.
“InsideRE’s advancements are a testament to our partnership and the Company’s outstanding leadership team and we are proud of the success and growth that the Company has achieved. Inside Real Estate, NexPhase, and Lovell Minnick Partners are very happy with the outcome of this transaction as the Company enters this exciting next chapter,” added Joel Killion, a Partner at NexPhase Capital.
GCA Advisors acted as exclusive financial advisor to NexPhase and the Company on this transaction and Parr Brown Gee & Loveless served as legal counsel.