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ParkerGale Capital and Chief Executive Officer Glenn Trout acquire and merge software companies Source Intelligence and Total Parts Plus to create supply chain compliance software leader.
July 7, 2021 | Chicago, IL: ParkerGale Capital, a Chicago-based private equity firm that specializes in investing in profitable software companies to accelerate growth, and industry veteran Glenn Trout announce their majority investment in Source Intelligence, the industry-leading SaaS company providing compliance data on supply chains for nearly 100 global regulations, and Total Parts Plus (TPP), the leading provider of critical parts data for product environmental compliance and lifecycle management. As part of the partnership, Source Intelligence will merge with Total Parts Plus and Glenn Trout will become Chief Executive Officer of the combined businesses. Previously, Glenn was the Founder and CEO of VelocityEHS, the leader in Environmental, Health & Safety (EHS) software.
For over a decade, Source Intelligence has delivered the leading supply chain transparency and supplier performance software platform that supports nearly 100 global regulations including corporate sustainability, regulatory compliance, and social responsibility initiatives. For over 20 years, TPP has combined web tools, data, and managed research to provide a comprehensive solution for obsolescence management, REACH and RoHS, and Conflict Minerals compliance.
The combination of Source Intelligence and TPP will give our customers access to one of the most expansive supplier networks and parts & compliance libraries in the industry. TPP’s data collection and validation services along with Source Intelligence’s suite of software tools provide a comprehensive solution for data analysis and compliance reporting.
“Both Source Intelligence and TPP are very excited to be working together moving forward. Together, we have the resources and expertise to support our rapid growth, provide enhanced services to our customers, and combine our supplier networks to create one of the largest databases in the industry,” says Glenn Trout who is joining the combined companies as Chief Executive Officer. “I’ve had the pleasure of working alongside both Source Intelligence and TPP and have seen firsthand their passion and drive to provide customers with the best technology solutions for supply chain transparency. Our vision is to leverage the strengths of both teams to make supply chain data management and compliance easy and accessible for both small and large enterprises.”
Devin Mathews, Partner at ParkerGale concludes on the new partnership and expanded resources, “We have known Glenn Trout for over a decade, and we’re thrilled to have him leading the combined team. Through our research, it was clear the combination of these two complementary companies could be powerful for companies struggling to stay on top of rapidly changing global regulatory requirements. We couldn’t be more excited to be partnering with Glenn and the team to bring these two growing companies together.”
About Source Intelligence: Source Intelligence is the leading provider of SaaS Supply Chain Compliance solutions and has been automating supply chain compliance for over a decade. Source Intelligence uses AI and machine learning technology to gather and validate supply chain data for over 300,000 companies for due diligence, regulatory compliance, risk management, and ESG initiatives. To learn more, visit www.sourceintelligence.com.
About Total Parts Plus: Total Parts Plus specializes in environmental compliance and obsolescence management solutions in the form of data content, web-based tools, and hosted services. Total Parts Plus suite of products provide information and reporting on RoHS Compliance, REACH/SVHC, Conflict Minerals, etc… and electronic component obsolescence management to include PCN’s, alternate sourcing, alternate equivalents, and life cycle predictions. To learn more, visit home.totalpartsplus.com.
About ParkerGale: ParkerGale Capital is a private equity firm based in Chicago that invests in small, profitable software companies where the firm’s operating resources can have a meaningful impact on the outcome. ParkerGale also hosts the Private Equity FunCast available on iTunes, Google Play, and wherever you get your podcasts. To learn more, visit www.parkergale.com.