PakEnergy
Oil & gas accounting solutions
Year of Investment
2019
Sector(s)
Technology
Status
Current
Subsector
Application Software
Website
pakenergy.com(Link opens in new window)Headquarters
Dallas, TX
Team
PakEnergy is a leading provider of enterprise resource planning (ERP) and accounting software to the oil and gas industry, including oil and gas operators and midstream companies. PakEnergy’s software is sold primarily via a Software-as-a-Service (SaaS) model directly to a broad base of more than 1,500 customers, primarily in Texas and other energy-producing states. The company is poised for growth as oil and gas firms in this market segment are increasingly adopting technology to increase productivity and manage industry accounting complexity.
Investment Summary
Charlesbank's Technology Opportunities team invested in PakEnergy (then, WolfePak Software) in 2019, taking a majority interest in the company with the balance funded by management. The debt financing for the transaction was negotiated by Charlesbank as well.
Charlesbank has been instrumental in helping us execute our acquisition strategy, bring new talent into the organization, and expand our product suite and go-to-market strategy. They are deeply committed to our success, and we view them as a true extension of the Pak team. With Charlesbank's continued support and partnership, we are excited to take Pak to new heights.”
Santosh Nanda, PakEnergy CEO
Team Building
Charlesbank has supported Pak in onboarding new talent in both the executive team and broader organization, especially in go-to-market, operations and finance.
Strategic M&A Engine
To date, Pak and Charlesbank have completed four accretive M&A transactions (as of August 2024) to build an integrated, end-to-end business automation suite for mid-market energy firms. Pak has cultivated a robust pipeline of meaningful add-ons and remains excited to pursue new opportunities.
Product Investment & SaaS Transition
During Charlesbank's investment, Pak transitioned its customer base from an on-premise solution to a next-gen, cloud-based SaaS model. Pak has also invested in integrating its offerings into a unified platform, enabling ease-of-use and significantly enhancing the platform’s value proposition.
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