Investment firm buys Raleigh startup focusing on photo industry software

RALEIGH – Charlesbank Capital Partners has acquired a majority interest in photo industry software startup ImageQuix.

The startup’s management, including CEO Alex Kovacevic, will remain shareholders, ImageQuix says.

“We believe ImageQuix offers a premier digital delivery and engagement solution for high-volume photography, leading to happier photographers and consumers,” said Mayur Desai, Managing Director at Charlesbank. “We see ample opportunity to capitalize on the e-commerce trend and the shift in consumer spending on experiences over physical products. We look forward to working with Alex and his experienced team to promote continued strategic growth and innovation at the Company.”

Financial terms were not disclosed. ASG had been a previous investor in ImageQuix.

ImageQuix says the backing from Charlesbank will result in ” accelerating the expansion of its business both organically and through M&A.”

“With ASG as our outstanding partner since 2018, we have seen impressive growth both organically and with strategic M&A,” said Kovacevi in the announcement. “By building out the product offering and our amazing team, we are now a market-leading provider of high-volume photography software. We are thankful for ASG’s partnership, and we’re thrilled to be writing our next chapter of growth with Charlesbank. Their strategic expertise and experience scaling enterprise software companies like ours will be critical as we continue to deliver on our promise to help photo studios of all sizes grow their businesses and provide outstanding pictures to their customers.”

Mayur Desai, Managing Director at Charlesbank, said, “We believe ImageQuix offers a premier digital delivery and engagement solution for high-volume photography, leading to happier photographers and consumers. We see ample opportunity to capitalize on the e-commerce trend and the shift in consumer spending on experiences over physical products. We look forward to working with Alex and his experienced team to promote continued strategic growth and innovation at the Company.”