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The Chicago private-equity firm Waud Capital Partners is looking for a top-shelf software maker. And there's $75 million on the table.
WCP has just formed a new company called Greenwood Technology Partners, LLC, and appointed Mark Layden to scout out fresh talent. Layden's credentials include a stint as COO at Applied Systems, which doubled its value on his watch and sold in early 2014 valued at $1.8 billion.
“Mark is a tremendously accomplished software executive with a history of value creation,” said WCP partner Matt Clary in a statement. “He brings all the necessary tools and experience to drive similar outcomes at Greenwood. Our financial commitment underscores Waud Capital's strategy to partner with successful executives to build market-leading companies in specific business niches."
Want to get in on the action? Layden and Greenwood are focusing on business-to-business innovations in finance, retail, and healthcare. The $75 million is just for starters – Waud may triple that amount. But you may want to keep your email to Layden in the “Drafts” folder unless you're really up on your stuff.
"Given the continued evolution of software towards cloud-based business models and the increasing importance of data and analytics, we believe this is the opportune time to build a leading vertical software platform," said Layden in a statement. "I have spent my entire career building and managing software companies, and WCP's focus on growth and prior success with similar management-led acquisition initiatives provides me great confidence in our collective success. I look forward to working with Waud Capital to develop Greenwood into an industry leader."
