Adjustments place Dodge for its subsequent chapter of development
BEDFORD, M.A. – November 14, 2024 – Dodge Development Community (“Dodge” or the “Firm”), a portfolio firm of Clearlake Capital Group, L.P. (along with its associates “Clearlake”) and STG Companions, LLC (“STG”), in the present day introduced vital enterprise milestones together with govt modifications and the profitable closing of a financing transaction.
Dodge raised $100 million of latest capital and prolonged debt maturities, additional bolstering its liquidity place and monetary flexibility. The transaction is open to holders of all of its present first lien and second lien time period loans.
Dodge additionally introduced in the present day that Andrew Somosi has been appointed because the Firm’s new Chief Government Officer, changing Daniel McCarthy, who’s stepping down. Mr. Somosi was most just lately Head of the Americas at Gerson Lehrman Group (GLG), and beforehand held management roles at Nielsen, Lattice Engines and LexisNexis, after starting his profession at McKinsey & Firm.
As well as, Johann Dudley has joined Dodge as Chief Product Officer. Mr. Dudley most just lately held product management roles at Flywheel Digital (acquired by Omnicom) and Nielsen.
“I’m excited to affix Dodge to assist drive its subsequent chapter of development and enterprise transformation. In my intensive analysis getting ready for my function, I used to be impressed by the breadth and scale of Dodge’s lead-generation, advertising and marketing, analytics and consulting options, which empower tens of 1000’s of firms to develop their companies within the multi-trillion greenback U.S. business development trade,” mentioned Mr. Somosi. “We’re happy with the profitable completion of this transaction, which strengthens our monetary place and supplies ample flexibility to pursue development and innovation. The continued help of Clearlake and STG spotlight their confidence in Dodge’s alternatives and potential.”
“This new capital and the strengthening of the management group symbolize vital milestones on Dodge’s journey,” mentioned Ben Kruger, Principal at Clearlake and Adam Hendricks, Managing Director at STG. “We thank Dan for his service and sit up for supporting Andrew and the Dodge group in its quest to serve the business development trade and energy its prospects’ development.”
About Clearlake
Clearlake Capital Group, L.P. is an funding agency based in 2006 working built-in companies throughout personal fairness, credit score and different associated methods. With a sector-focused method, the agency seeks to associate with skilled administration groups by offering affected person, long-term capital to dynamic companies that may profit from Clearlake’s operational enchancment method, O.P.S.® The agency’s core goal sectors are expertise, industrials, and client. Clearlake presently has over $85 billion of property below administration and its senior funding principals have led or co-led over 400 investments. The agency is headquartered in Santa Monica, CA with associates in Dallas, TX, London, UK, Dublin, Eire Singapore and Abu Dhabi, UAE. Extra data is on the market at www.clearlake.com.
About STG
STG is a personal fairness associate to market-leading firms in knowledge, software program, and analytics. The agency brings expertise, flexibility, and assets to construct strategic worth and unlock the potential of revolutionary firms. Partnering to construct customer-centric, market-winning portfolio firms, STG creates sustainable foundations for development that carry worth to present and future stakeholders. The agency is devoted to remodeling and constructing excellent expertise firms in partnership with world-class administration groups. STG’s expansive portfolio has consisted of greater than 50 world firms. For extra data, please go to www.STG.com.
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About Dodge Development Community
Dodge Development Community harnesses knowledge, analytics, and trade connections to be the main supply of insights and alternatives within the business development trade. With 5 trusted solutions-Dodge Development Central, The Blue Guide, Sweets, IMS, and Principia-Dodge connects development professionals throughout all phases of the constructing course of. Designed for each small groups and enormous enterprises, these instruments simplify complexity, empowering you to construct thriving companies and communities. With over a century of expertise, Dodge Development Community is the catalyst for contemporary development. To be taught extra, go to .
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