August 2024 – Osprey Capital Partners Inc.. is pleased to announce that Comsense Inc., a leader in ERP software solutions for distributors of doors and hardware, has been acquired by Advantive, a mission-critical software provider for specialty manufacturing and distribution businesses. Osprey Capital acted as the exclusive advisor to Comsense.
The deal represents another successful transaction for Osprey Capital in the software & technology space.
The Client
Headquartered in Toronto, Canada, Comsense has provided ERP and project management solutions for the architectural door, frame, and hardware distribution industry since 1989. Today, Comsense helps architectural opening distributors optimize their operations by streamlining their quote-to-cash process.
Based on the backbone of digital price books, Comsense software facilitates the complex processes of bidding, submittal generation, change orders, and fulfillment to ensure accurate and efficient project execution.
Comsense has been providing software systems and support to this industry exclusively for over thirty years.
The Objective
The shareholders were looking to find the right partner to help continue the company’s impressive historical growth and provide liquidity for the shareholders. Osprey Capital planned and executed a highly confidential sale process.
The Result
The sale process resulted in identifying a partner that shared the owner’s values, while providing them an attractive plan for succession.
“While Advantive has over 30 years of experience in the distribution industry, we are always looking for the right opportunities to expand our presence and deepen our expertise,” said Kevin Boyce, CEO of Advantive. “The acquisition of Comsense enables us to further solidify our position in construction-related materials distribution by expanding into the essential architectural openings space.”
Advantive is a leading provider of mission-critical software for specialty manufacturing and distribution companies, offering purpose-built ERP, MES and SPC software solutions that meet the unique needs of their customers. Serving over 6,500 customers and operating in 88 countries, Advantive’s software solutions simplify complex processes, optimize operations visibility and throughput, and drive improved quality, profitability, and revenue growth.
Patrick Teas, President of Comsense, explained, “When I decided the time was right to explore selling my business, our accounting firm referred me to Osprey Capital Partners because they had some mutual customers with positive experiences working together. I can’t thank both firms enough, because in a world where so many firms were pitching me with grand promises for my software business, the team at Osprey provided a welcomed calm to the chaos. The people at Osprey are fantastic to work with, and their clearly honed process proved to be extremely effective. Stephen and Casey clearly set expectations early on, and we had a great time working together through each step of their process. I’m very happy to say that our outcome far exceeded our original expectations, and my business is now in great hands. I’m forever grateful for Stephen, Casey, Bob, and the rest of the team at Osprey.”
From Stephen Jakob, Managing Partner of Osprey Capital: “It was a pleasure to work with Patrick and his team to help the family find the right partner to take Comsense forward. We are proud of the outcome we achieved together and look forward to seeing the continued success of the business under Advantive’s leadership.”
