Pender Growth Fund Expands Portfolio with Strategic Acquisitions
Pender Growth Fund Inc. is thrilled to share transformative news regarding its recent strategic decisions. The company has completed the acquisition of four innovative technology firms previously owned by Pluribus Technologies Corp. This initiative comes from a majority-owned subsidiary, which is set to operate as Pender Software Holdings Ltd., comprising approximately 85% ownership by Pender and 15% by Acorn Partners Inc.
The acquisition represents a significant investment totaling C$17.0 million, which will be subject to typical working capital adjustments, performance metrics, and customary holdbacks, reflecting Pender’s commitment to solid and scalable growth. Notably, all four acquired companies are generating positive cash flow, underscoring their robust market positions.
Overview of Acquired Companies
Pender has strategically selected four technology companies that align well with its investment philosophy:
POWR Inc.
Founded in 2014, POWR Inc. has established itself as a leader in providing essential eCommerce solutions. With its headquarters in San Francisco, POWR specializes in plugin libraries that help online businesses enhance their customer engagement and conversion rates on platforms like Wix and Shopify.
Rowanwood Professional Services Ltd.
Another noteworthy addition is Rowanwood Professional Services Ltd., founded in 2017. This London-based firm provides tailored asset management and energy management software for housing providers throughout England, Scotland, and Wales, catering to a crucial sector in property management.
Cranham Haig Ltd. dba CHL Software
Cranham Haig Ltd., operating under the name CHL Software since 1996, is another valuable company in Pender's growing portfolio. Based in Gloucestershire, this firm offers secure document and email management solutions primarily focused on the legal sector, effectively addressing a niche yet vital area of demanding compliance and documentation needs.
Assured Software Ltd.
Finally, Assured Software Ltd., established in 1997 and operating out of Vancouver, specializes in providing innovative design workflow and job management solutions focused on the restoration industry, highlighting Pender’s commitment to enhancing operational efficiencies across various sectors.
Smoother Transitions for Continued Success
The successful acquisition of these companies comes with the assurance that they will continue to operate under the guidance of their existing management teams. The focus is directed towards ensuring a seamless integration process with minimal disruption for customers, employees, and business operations. Pender’s new company structure will allow for operational excellence, bolstered by strategic support and financial backing from both Pender and Acorn Partners.
About Pender Growth Fund Inc.
Pender Growth Fund Inc. operates as an innovative investment firm that aims to generate long-term capital growth. Leveraging its capital base and long-term strategic vision, Pender focuses on investing in unique scenarios primarily centered in the technology space. Their trading occurs on the TSX Venture Exchange under the ticker symbol “PTF”, making them an accessible option for investors seeking to diversify into the tech sector.
About Acorn Partners Inc.
Acorn Partners Inc., based in Vancouver, BC, is an investment and advisory firm that places equity in profitable tech companies. The firm aligns itself with dependable capital partners to empower its portfolio companies through strategic support while allowing management autonomy in operational decisions.
Contact Information
For any inquiries, please reach out to:
Tony Rautava
Corporate Secretary
Pender Growth Fund Inc.
(604) 653-9625
Toll Free: (866) 377-4743
Frequently Asked Questions
What recent acquisitions has Pender Growth Fund completed?
Pender Growth Fund has acquired four technology companies from Pluribus Technologies, enhancing its portfolio.
What companies were acquired by Pender Growth Fund?
The companies acquired include POWR Inc., Rowanwood Professional Services Ltd., Cranham Haig Ltd. (also known as CHL Software), and Assured Software Ltd.
How much did Pender Growth Fund invest in these acquisitions?
The total cash investment for these acquisitions amounted to C$17.0 million, subject to certain adjustments.
What does Pender Growth Fund do?
Pender Growth Fund is an investment firm focused on long-term capital growth, primarily in the technology sector.
Who can I contact for more information about the acquisitions?
For additional information, you can contact Tony Rautava, Corporate Secretary at Pender Growth Fund Inc.
