Case Study:

Perforce Software

“When the opportunity arose, I did not hesitate to partner with Summit for the third time in my career. Their deep software experience and focus on growth provided valuable support as we worked together to transform Perforce.”

Janet Dryer

Janet Dryer, CEO

Minneapolis, MN

Janet Dryer

Founded in:
invested in:

Acquired by Clearlake Capital 2017

Case Study:

Perforce Software

DevOps software tools for enterprises

Partnered with Janet Dryer, former CEO of Summit-backed HelpSystems, to lead a transformation of the business

Completed three acquisitions during Summit’s two-year investment, broadening Perforce’s product suite and expanding the company’s customer base

Increased EBITDA by more than 4x

Acquired by Clearlake Capital Group in 2017

Founded in 1995, Perforce was a leading provider of version control and configuration management software for teams building digital products. After serving as CEO of Perforce for more than two decades, Founder Christopher Seiwald sought to transition the business to new leadership. Summit introduced software industry veteran Janet Dryer – former CEO of Summit-backed HelpSystems – and in 2016, acquired Perforce to launch the company on its next phase of growth.

How Summit helped:

  • Led a majority investment in 2016
  • Introduced software industry veteran Janet Dryer to assume the role of CEO as part of a planned founder transition. Summit had previously backed Janet twice during her tenure as CEO of HelpSystems.
  • Collaborated closely with management to develop an M&A strategy to broaden Perforce’s product suite and strengthen the company’s position in the enterprise segment of the market. Summit actively worked alongside management to identify and diligence targets, helping execute and integrate three acquisitions, each of which added complementary technologies to Perforce’s product portfolio.
  • Engaged Summit’s Capital Markets team to establish a credit facility to support M&A activity
  • Worked with management to implement marketing programs focused on driving customer growth

Today, Perforce is a leading provider of enterprise-grade DevOps solutions that enable developers and operations teams across the globe to build and deliver digital products faster and with higher quality. Serving more than 3,000 customers worldwide, Perforce is trusted by the world's most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft, and VMware.