New board member brings key investment and diverse leadership expertise to WorkWave to continue exponential growth into 2022 and beyond
HOLMDEL, N.J. – Dec. 16, 2021 – Lancer Group places Eric Palmer on the Board of WorkWave®, a provider of SaaS software solutions that support every stage of a service business’s life cycle.
Workwave was acquired in 2017 by software company IFS, which itself was acquired by EQT in 2015, a Swedish private equity group. In September 2020, private equity firm TA Associates bought in to IFS with a significant minority stake.
Eric Palmer is one of three simultaneous appointments made by Lancer Group to the expanded WorkWave Board of Directors, making up three recognized industry leaders with Sheryl Hoskins and Sejal Pietrzak.
Palmer, Hoskins and Pietrzak join the existing members of the WorkWave Board of Directors: Darren Roos, chairperson of the WorkWave board, CEO of IFS; Johannes Reichel, partner at EQT; Naveen Wadhera, co-head of TA Associate’s European Technology Group; and Stewart Lynn, Partner at Serent Capital.
Expanding the existing WorkWave Board of Directors from four members to seven not only reflects the company’s continued growth during a period of increased investment and acquisition, but also speaks to WorkWave’s ongoing commitment to fostering a diverse culture and mix of experience, backgrounds and geographies.
“We now have a diverse range of extraordinary talent across both the WorkWave employee base and Board of Directors. Diversity of ideas and perspectives is key to enabling us to robustly build the company’s future in a way that promotes new innovation, fresh perspectives and an inclusive company culture,” said David F. Giannetto, CEO of WorkWave. “2021 has been a transformative year for this company, and we’re committed to continuing our growth journey and reinforcing our position as the market leader for the verticals we serve.”
“WorkWave has demonstrated an incredible capacity for growth, scalability and financial performance during this phase of investment and development,” said Darren Roos, chairperson of the board at WorkWave. “These carefully selected board members will support WorkWave in its mission to continue to deliver innovative industry-leading solutions that help its customers to grow their business, service their customers and maximize their money.”
WorkWave’s growth and acceleration strategy for 2022 and beyond positions the company to transform and evolve its portfolio and services. As a leading software solutions provider for pest control, the green industry, and cleaning and janitorial, WorkWave is committed to leading its customers in a way that encourages strong, recurrent customer relationships, empowering them to succeed across all areas of service.
Eric Palmer is a serial C-level executive and company growth strategy advisor with extensive experience in operations and finance, software, service and SaaS businesses. He has orchestrated multiple private equity financings, venture capital investments, IPOs, private and public debt financings, acquisitions, roll-ups and other strategic initiatives.
For nearly 40 years, WorkWave has been building best practices into its field service and last mile software solutions to allow best-in-class companies to grow their business, service their customers and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave’s award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers. For more information, visit www.workwave.com
IFS AB (Industrial and Financial Systems), a multinational enterprise software company headquartered in Linköping, Sweden. The company develops and delivers enterprise software for customers around the world who manufacture and distribute goods, maintain assets, and manage service-focused operations. IFS has over 4,000 employees that support more than 10,000 customers and one million worldwide from a network of local offices and a growing ecosystem of partners (website: www.ifs.com).
About EQT Partners
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership (website: www.eqtgroup.com).
About TA Associates
Headquartered in Boston, Massachusetts and founded in 1968, TA Associates is one of the early modern-era private equity firms in the United States. The firm leads buyouts and minority recapitalizations of profitable growth companies. TA Associates has invested across a range of industries, including technology, healthcare, consumer products, financial services and business services.
TA Associates has raised $47.5 billion of capital since inception and has been a lead investor and director in more than 500 companies, and been ranked among the 50 largest private equity firms (ranked 41 in 2014) globally. As of January 1, 2015, TA had more than 130 employees, including 80 investment professionals in Boston, Menlo Park, London, Bengaluru, Mumbai and Hong Kong (website: www.ta.com).
Private Equity Recruitment
The Lancer Group is a retained executive search and private equity recruitment firm providing advisory services to growth investors and their portfolio companies.
Founded in 1998, we are a trusted provider of human capital for leading private equity firms and have placed thousands of executives into private equity portfolio companies since our inception.
Our 25 years of experience helps investors drive portfolio company ROI by finding the right talent. We understand the operational rigor and financial discipline needed for lead investor-backed companies in value creation and we are experts in delivering proven leaders for investors in software and tech-enabled service companies.
We are experts in C-suite executive search, operating partners and boards. We provide pre-deal services, executive assessments and high-quality previously PE-backed diversity candidates
For a confidential discussion, please contact us.