NexPhase Capital Announces Sale of Inside Real Estate

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Aug 23, 2019, 09:00 ET

NEW YORK, Aug. 23, 2019 /PRNewswire/ -- 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.

About NexPhase Capital
NexPhase Capital is a thematic and operationally-focused private equity firm that makes equity investments primarily between $25 million and $75 million in lower middle market growth-oriented companies in the healthcare, consumer, and software & services sectors. The firm seeks to execute control investments, in partnership with founders and entrepreneurs, in lower middle market companies to create value through dedicated operating resources, new sales channels, and effective partnerships. Led by Co-Managing Partners Kurt Larsen and Ted Yun, NexPhase advises $1.2B of private equity capital. For more information, please visit www.NexPhase.com.

About Inside Real Estate
Inside Real Estate is one of the fastest growing independently-owned real estate software companies and a trusted technology partner to over 200,000 agents, teams and top brokerages. The company's flagship platform, kvCORE, is a modern and comprehensive solution known for delivering profitable growth at every level of a brokerage organization. Built with a scalable and flexible infrastructure, kvCORE enables brokerages to create their own unique technology ecosystem to enhance and differentiate their brand and culture. With an accomplished leadership team and over 175 employees, Inside Real Estate brings the resources, scale and vision to deliver ongoing innovation and success for its growing customer base. Learn more at www.insiderealestate.com.

Contacts

NexPhase Capital

Jonathan Keehner / Kate Clark
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

SOURCE NexPhase Capital