Carlsquare announced its role as exclusive financial advisor to PlanetBids, Inc. (“PlanetBids”) in its acquisition by Houston-based private equity firm, Capstreet. PlanetBids is a leading provider of eProcurement software as a service (SaaS) solutions to government, educational, nonprofit, and private organizations.
Founded in 2000 by Alan and Arpie Zavian and headquartered in Studio City, CA, PlanetBids enables organizations to improve visibility, save time, and reduce costs by streamlining their procurement processes through a fast and frictionless modern interface. The Company offers two flexible procurement platforms: PB System, which helps government, private, nonprofit and educational procurement teams manage and streamline the procurement process, and VendorLine, which connects vendors and contractors with bid opportunities through an intelligent and easy-to-use notification and search platform.
“Collaborating with Carlsquare team during this transaction was instrumental,” said Mr. Zavian. “The team’s skill navigating complex deal dynamics was crucial from project kickoff through successful close.”
Susan Blanco, Managing Partner at Carlsquare, said, “Capstreet’s acquisition of PlanetBids marks a milestone in the eProcurement and GovTech SaaS landscape. We are excited to deliver an exceptional outcome to the PlanetBids founding team, Alan and Arpie Zavian, after the years they spent building PlanetBids into an industry leader.”
