Peterson Private Equity partners with Black Mountain Software
Salt Lake City — Peterson Private Equity has invested in Black Mountain Software, a leading provider of government accounting and billing software. Peterson’s investment will help accelerate product expansion and innovation, as well as growth beyond current geographies.
Founded in 1993 by Jack Liebschutz and Wayne Carriere and based in Polson, Montana, Black Mountain Software’s product line includes software solutions for municipal accounting, utility billing and school accounting.
“Peterson was our capital partner of choice from the beginning, given their excellent reputation for being true partners with the companies they invest in,” said Liebschutz, co-founder and director of Black Mountain Software. “We are grateful to be able to leverage Peterson’s experience in scaling enterprises and its network of operational experts.”
In conjunction with this investment and in an effort to support Black Mountain Software’s continued growth, Mike Fabrizio and Nate Quinn will join the leadership team as co-CEOs. Prior to Black Mountain Software, Fabrizio was part of the investment team at Accel-KKR, a software-focused private equity firm with over $10 billion in assets under management. Quinn was previously part of the investment team at Menlo Ventures, a California-based $1 billion venture capital fund.
“Our mandate is to support exceptional businesses and entrepreneurs and help them create lasting value,” said Jordan Lusk, Vice President at Peterson. “We are grateful for the opportunity to invest in a defensible software company at this point in the business cycle and to bring in leaders like Mike and Nate to help strengthen the management team.”
“What makes Black Mountain special is the focus on anticipating and meeting the needs of its customers,” says Fabrizio, co-CEO. “Nate and I are thrilled to have the chance to help write the next chapter in Black Mountain’s growth and build on the foundation created by Jack, Wayne and the rest of the team.”
About Peterson Partners
At Peterson Partners, our mission is to help great people build great businesses. We roll up our sleeves to support exceptional entrepreneurs and management teams in building sustainable businesses and have invested in over 300 companies across a wide range of industries, including Allbirds, Vivint, Lucid Software and Azul. Typically, Peterson Partners provides a company’s first social capital, and we participate in a chapter of growth where we work hard as coaches and trusted advisors to drive growth and build brands, systems and human capital. Peterson Partners is an independent investment firm with over $1.8 billion under management across private equity, venture capital and research strategies. To learn more about Peterson Partners, please visit https://petersonpartners.com.