SAN FRANCISCO, Aug 1, 2022 /PRNewswire/ — Gryphon Investors (“Gryphon”), a leading mid-market private equity firm, today announced it has acquired Rootstock Software (“Rootstock” or “the Company”), a leading provider of cloud-based enterprise resource Planning software (“ERP”) for manufacturing, distribution, and supply chain organizations, increasingly seeking cloud-native, purpose-built ERP solutions to streamline operations. Both Salesforce Ventures and the company’s management team have re-invested in the deal along with Gryphon. The terms of the deal have not been disclosed.
Rootstock provides an industry-leading, configurable cloud ERP solution built on the Salesforce platform. The company’s software helps manufacturers, distributors and other organizations run their day-to-day operations by connecting customers, suppliers and employers to critical data in their organizations at any time and from anywhere. Rootstock has embedded deep industry knowledge and business logic into the platform’s design, which combines advanced, enterprise-grade technology infrastructure, integrated analytics, advanced reporting, and AI/ML capabilities. headquarters in San Ramon, CaliforniaRootstock serves a blue-chip customer base in North American and international markets.
Jon CheekDeal Partner and Head of Gryphon’s Software Group, said: “The global supply chain challenges of the past two years have highlighted the need for manufacturers and distributors to modernize the technology that drives their core operations and processes. Rootstock’s ERP platform provides the best solution” class cloud software that improves connectivity between companies and their customers, suppliers and employees. We are excited to partner with Salesforce and the Rootstock management team to address the strong and growing market demand for the company’s solutions.”
“We are excited about the relationship Rootstock has built with Salesforce to enable a modern, flexible product that drives efficiencies for all organizations, yet uniquely differentiates by the symbiotic value it provides to users of the Salesforce ecosystem,” said Sandy McKinnondirector of Gryphon’s Software Group.
Rootstock’s management team is led by: David Stephanswho has been named CEO of the company as part of the transaction after his nine-year tenure as an executive at Rootstock, while founder Pat Garrehy will join Rootstock’s board of directors along with several industry veterans and operational advisors.
“Gryphon’s extensive experience growing businesses organically and through acquisitions, particularly in the software sector, will position Rootstock to take advantage of robust opportunities both in the US and internationally,” said Mr. Stephans. “We look forward to working closely with the Gryphon team as we continue to innovate and build on our success.”
Mr Garrehy added: “I am delighted to have found such an exciting home for the company that I have built over the past fifteen years, and I look forward to the great opportunity that Rootstock has in store in partnership with Gryphon to accelerate growth, better serve our Cloud ERP products and our customers.”
Lightning Partners acted as financial advisor and Reed Smith acted as legal advisor to Rootstock in this transaction. William Blair served as financial advisor and Gibson Dunn served as legal counsel to Gryphon in this transaction.
Rootstock Software’s Cloud ERP solutions help manufacturers, distributors and supply chain organizations digitally transform their operations. Rootstock is built on the Salesforce Platform and offers customers the benefits of an enterprise cloud environment and ERP system that is intuitive, flexible and digitally connected. The company provides training, product knowledge and support to help customers configure Rootstock Cloud ERP to meet their needs. This comprehensive offering enables customers to deliver a superior customer experience, streamline and scale their operations and outperform the competition. For more information visit www.rootstock.com.
About Gryphon Investors
Located in San FranciscoGryphon investors (www.gryphoninvestors.com) is a leading private equity firm focusing on profitable growing and competitive mid-sized companies in partnership with experienced management. The company has succeeded $9 billion of equity investments and capital since 1997. Gryphon aims to make equity investments of $50 million until $300 million in portfolio companies with enterprise values ranging from approximately $100 million until $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading businesses, leveraging Gryphon’s capital, specialized professional resources and operational expertise.
About Salesforce Ventures
Salesforce Ventures helps entrepreneurial founders build companies that reinvent the way the world works. Since 2009, we have invested in and partnered with over 400 of the world’s most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe , Tanium and Zoom. Salesforce Ventures leverages our decades of cloud expertise and longstanding relationships with key decision makers at thousands of companies around the world to give our portfolio companies an unfair advantage, help them build credibility and accelerate growth. Salesforce Ventures has invested in more than 25 countries with offices around the world, including in San Francisco, Irvine, New York, London, Tokyoand Sydney. Follow @SalesforceVC and learn more at http://www.salesforceventures.com.
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SOURCE Gryphon Investors; Rootstock software