Gauge Capital Announces Strategic Investment in irth Solutions
Gauge Capital announced that it has partnered with the owners and management team of irth Solutions, Inc. (“irth”) to recapitalize the company. Founded in 1985 and headquartered in Columbus, Ohio, irth is a leading provider of 811 ticket management and field service management (“FSM”) software. irth’s software helps companies in the energy, utilities, and telecom sectors protect their critical assets. Through irth’s UtiliSphere software platform, companies can process large volumes of activities and workflows, including 811 tickets, quickly and accurately to ensure the safety of workers and protection of underground assets. Additionally, irth offers several solutions in the broader FSM space, with solutions including vendor & employee qualification tracking, damage risk management, pigging, asset patrol management, and atmospheric corrosion detection.
“Our recent partnership with Gauge Capital marks the beginning of a new, exciting chapter for our company. ‘What’s in the best interest of our customers?’ will continue to be the question we ask ourselves as we expand our offerings. There is a large unaddressed segment of companies with critical assets, and with the recent investment from Gauge we plan to accelerate our market penetration, expand into other industry verticals, and develop additional solutions within the FSM space that satisfy unmet needs of our customers” said Trent Peugh, President and CEO of irth.
Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital, said, “We are excited to partner with a business as well positioned as irth and to support Trent and the rest of the management team in their vision for the Company. They have been at the forefront of identifying and providing value-added services to customers with critical assets across a wide range of industries, and there is still substantial room for growth.”
As part of the investment, Tom McKelvey and Reid Barnett from Gauge Capital have joined the Company’s Board of Directors.
Vaquero Capital served as financial advisor to irth.
ABOUT IRTH SOLUTIONS
irth Solutions is the leading provider of field service management solutions that help increase the productivity of our customers’ field workforce teams while maximizing the performance of their company’s mission-critical assets.
irth Solutions is headquartered in Columbus, Ohio. For more information, visit www.irthsolutions.com.