BV Investment Partners Announces Growth-Oriented, Minority Investment in CivicPlus
BOSTON, May 13, 2019 – BV Investment Partners (“BV”), a middle-market private equity firm focused on the business services, software and IT services sectors, today announced that it has made a minority investment in CivicPlus, a leading integrated technology platform for local government. The investment is being made in partnership with Ward Morgan, founder of CivicPlus, and with the existing management team.
With over 20 years of experience focused exclusively on local government and over 3,500 active clients, CivicPlus has positioned itself as THE integrated technology platform for civic engagement and administrative solutions. CivicPlus’ integrated solutions include a website content management system and website hosting (CivicEngage®), applicant and employee management (CivicHR®), recreation management (CivicRec®), agenda and meeting management (CivicClerk®), mass and emergency notifications (CivicReady®), and citizen request management (CP ConnectTM). All are connected by the CivicPlus® Platform, which integrates online services, like forms and payments, and other third-party software solutions from technology partners. Over 60,000 local government employees use CivicPlus’ software solutions, and CivicPlus’ local government websites are viewed by more than 75 million constituents, register over two billion page views, and collect over 30 million website searches. The Company has been an INC. 5000 fastest growing company for the past eight years, and has made the GovTech 100 list every year since its inception.
Brian Rempe, CivicPlus Chief Executive Officer, said, “We went through a careful vetting process to find the right partner who can help us achieve our ambitious goals in the years ahead. In BV, we found a like-minded partner that appreciates our market, our unique position within it, our culture and employees, and the extraordinary opportunity that lies ahead in helping make local government work better. I’m extremely proud of all that we have accomplished to date and all that we do for our clients day in day out, and I’m confident that the partnership with BV will put us in an even stronger position to offer more and more value to our clients and their residents.”
Justin Harrison, Managing Partner of BV Investment Partners, said, “We have had a running investment thesis within GovTech, and CivicPlus stood out to us very early on as a clear leader. Ward, Brian, and their team have built a great company, and we are honored and excited to partner with them for this next phase of growth at CivicPlus. This investment aligns well with our broader constituent engagement, software and technology services practices, and with our philosophy of partnering with great management teams to help accelerate growth.”
“We have accomplished a lot over the past two decades,” said Ward Morgan, founder of CivicPlus, “but we know that we are still scratching the surface of what we can accomplish in the years ahead. We are delighted to have found in BV a firm that shares our excitement and vision for CivicPlus’ future and look forward to working closely with them to make that vision a reality.”
About CivicPlus
CivicPlus is the integrated technology platform for local government, working with over 3,500 local governments including municipalities, counties, and municipal departments. CivicPlus has been selected by Inc. Magazine as “One of the Fastest-Growing Privately Held Companies in the U.S.” since 2011. For more information, visit www.CivicPlus.com.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $3.4 billion, actively targeting investments in the business services, software and IT services industries. For more information, please visit www.bvlp.com.
