CARY – Tech software services firm Dude Solutions has a new owner.

Clearlake Capital Group on Friday announced that it had acquired the company from Warburg Pincus, which invested $100 million in Dude Solutions five years ago.

Dude Solutions management will stay in place, Clearlake said.

Financial terms of the deal were not disclosed.

“We are excited to partner with Clearlake, who has a successful track record of sponsoring and supporting growing software companies,” said Ed Roshitsh, Chief Executive Officer of Dude Solutions, in the announcement which was made early Friday.

“Clearlake’s partnership will provide access to global resources and enable the Company to invest in growth initiatives to better serve our customer base over the long-term.”

Dude Solutions

Clearlake is based in Santa Monica, Calif.

Dude Solutions has more than 12,000 customers.

The news comes just three days after Dude Solutions expanded its footprint into the energy space.

On Tuesday, the Cary-based firm announced that it has purchased the EnergyCenter product asset from New Energy Technology (NET).

In 2018, the company achieved a significant milestone – surpassing $100 million in annual revenue. It’s also made several acquisitions over the years, most recently acquiring Poulsbo Washington-based Paladin Data Systems, which provides software for local government.

It’s growing at an astonishing clip – at around 25 percent per year. The company launched in 1999.

The firm boasts 650 employees nationwide, and is gearing up to hire another 125 personnel over the next 12-18 months.

“We are impressed by what Dude Solutions has achieved under Ed and the founders’ leadership, and we share their excitement that the Company will serve as an excellent platform for both organic and inorganic growth initiatives,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlak, in a statement.

“Dude Solutions has a market leading software platform that operates in an increasingly complex asset management environment.”

Warburg Pincus praised Dude Solutions and management for growth made over the past five years.

Dude Solutions expands footprint with its first energy asset acquisition

“Over the past five years, Dude Solutions has more than quadrupled to become the market leader in cloud-based operations management software,” said Justin Sadrian, Managing Director, Warburg Pincus.

Added Alex Stratoudakis, Principal, Warburg Pincus: “We are proud to have partnered with Ed, Kent and Lee as well as the entire Dude Solutions team and we wish the company continued success in the future.”

At Cary software firm Dude Solutions, women execs rule the C-Suite