Clearsight Advises Protech Associates in its Acquisition by Togetherwork
Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its Association Management Software (AMS)/Payments practice. Clearsight served as the exclusive advisor to Protech Associates, Inc. (“Protech” or the “Company”) in its acquisition by Togetherwork Holdings, LLC (“Togetherwork”), a portfolio company of GI Manager, LP dba GI Partners. This transaction underscores Clearsight’s leading role in the Tech-Enabled Services and Software-as-a-Service (SaaS) landscapes.
Protech is an AMS provider serving nonprofits via Microsoft applications. Established in 1984, the Company now boasts 120+ employees spanning their Columbia, MD headquarters, Argentina and India offices. As the first AMS provider on the Microsoft Dynamics 365 platform, Protech helps associations harness the functionality and flexibility of a platform-based AMS. This integration allows the Company’s clients to maximize efficiency on an easy-to-use platform, drive membership growth and increase staff productivity. Togetherwork is a SaaS and payments provider for a variety of organizations. Protech will join Fonteva (acquired by Togetherwork in February 2021) in Togetherwork’s Association Solutions business unit. This combination will unlock synergies in the AMS arena and reveal new growth opportunities for Protech.
Frank Bruffey, III, Protech Co-founder and CTO commended the process, “We entrusted Clearsight with our family business and are incredibly grateful they helped us find a great partner in Togetherwork. The Clearsight team was thorough and attentive at every stage of the process and incredibly knowledgeable about both our business and the broader AMS landscape. We are very excited for Protech’s next phase of growth.”
Kevin Bruffey, Protech’s President, added, “We were impressed with the level of expertise and commitment the Clearsight team brought to this transaction. Their insights and market knowledge helped position us for a terrific outcome for all stakeholders.”
Clearsight Co-founder and Managing Director Joel Kallett remarked, “Clearsight is thrilled to have helped the Protech team and the Bruffey family in this transaction with Togetherwork. Protech’s industry-leading AMS offerings will undoubtedly provide Togetherwork with the capabilities to enhance their client services. Protech is a natural fit with Togetherwork and we’re excited to see what the future holds for the combined entity.”
The Clearsight deal team included Joel Kallett, Sonya Lu, Jake Lipman and Jake Kohlbrenner.