We are excited to announce that Fortissimo Capital, together with our partner TA Associates, has entered into a definitive agreement to sell a majority stake in our portfolio company, Priority Software (“Priority”), to Blackstone. Priority is a leading provider of scalable and agile cloud-based business management solutions.
Transitioning Priority into a Global Leader
Our journey with Priority began in December 2013 when we acquired 100% ownership of the company. Over the initial years, we undertook a comprehensive transformation of the company. This included building and expanding the management team, transitioning Priority from a local Israeli player to a global entity, expanding its cloud offering and customer base, extending services from SMBs to larger enterprises, and innovating its product portfolio.
After a 6.5-year period marked by significant growth and value creation, resulting in increased revenue, we welcomed TA Associates as an equal partner in October 2020. Priority then embarked on a series of strategic acquisitions of seven companies, which significantly diversified its offerings and drove incremental growth. The company expanded its product portfolio beyond ERP to include applications in sectors such as retail, hospitality, and education.
Success Trajectory
Today, Priority Software is a leading ERP provider across all market segments in Israel. Their comprehensive product suite automates complex processes and centralizes data management, driving growth and optimizing operations for over 17,000 customers and 300,000 end users worldwide. Supported by a network of over 100 partners, Priority’s workforce of 600 employees operates from offices in Israel, the US, and Belgium.
With a strong management team in place to support future organic and inorganic expansion, the company is poised for continued success. The agreement with Blackstone is a testament to Priority’s achievements over the last decade.
We look forward to continuing our partnership with Priority, alongside new investor Blackstone and with our existing investor TA Associates, to further enhance the company’s development, innovation, and success.
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