Warburg bets $100m on Dude software

The firm will acquire a minority stake in facility management software Company Dude Solutions.  

Warburg Pincus will make a growth capital investment of up to $100 million in cloud-based software-as-a-service company Dude Solutions.

North Carolina-based Dude provides facility management services to school districts, universities, governments, healthcare companies and other businesses in several industries under the SchoolDude and FacilityDude brands. Warburg will acquire a minority interest in the company using capital from its $11.2 billion Fund XI that closed last May. The investment will be used to grow the business through hiring sales, marketing and technology professionals and by making strategic acquisitions.

“Dude Solutions has an impressive history of helping its clients save money, increase efficiency and improve services with their facility management solutions across a number of industries,” Alex Berzofsky, a managing director at Warburg, said in a statement.

Warburg has more than eight software companies in its portfolio, including FacilitySource, a provider of outsourced facility maintenance workflow services, and The Gordian Group, a job order contracting company that services the government sector and private sector clients.  Warburg has invested more than $15 billion in technology, media and tech-enabled services companies since the firm’s founding.

Last November, Warburg hired US treasury secretary Tim Geithner as president and managing director. Geithner was previously the president and chief executive officer of the Federal Reserve Bank of New York, leaving in 2009 to become US treasury secretary.

Warburg has raised 13 private equity funds and invested in more than $45 billion in roughly 675 companies since its founding in 1966.