Sold My Ticket
NY equity firm buys fast-growing ABQ software company
Aholding company created by a New York private equity firm has acquired Albuquerquebased ticketing software company HoldMyTicket for an undisclosed sum.
It’s the second New Mexico acquisition in four months for Aquiline Capital Partners, the company behind Fullsteam Operations LLC. In September, Fullsteam purchased Albuquerquebased software firm Event Rental Systems, also under undisclosed terms.
Aquiline and Fullsteam have not yet responded to a request for comment.
In a news release, Fullsteam CEO Michael A. Lawler called HoldMyTicket “a great company that enables Fullstream to enter the event ticketing space.”
“The software package is first class, and we believe they are in a great position for growth in the coming years,” said Lawler
HoldMyTicket CEO Wes Edling said the Fullsteam transaction closed a few days before Christmas. He said he plans to stay in his position and that HoldMyTicket will hire additional developers, sales and marketing personnel over the coming year.
“We’re remaining a New Mexico business, and everyone will remain on staff,” said Edling. “(Fullsteam) will invest back into our company, and help synergize resources across the other companies they acquire.”
HoldMyTicket’s services include online sales, event management and on-site scanning technology, according to the company’s website. Edling told the Journal HoldMyTicket’s 2018 revenue was around $15 million. In 2016, it was about $7.5 million.
Rob Weinstein, CEO and co-founder of Event Rental Systems, said his company’s deal with Fullsteam will allow Event Rental Systems to add to the company’s 13-person team and explore new markets. Currently, the company automates business services for party rental companies.
He said Event Rental Systems grew quickly before the acquisition and that revenue is up more than 50 percent year-over-year, though he declined to provide the actual figures.
In a May 2018 news release, Aquiline described Fullsteam as “a new holding company with a mission to acquire software and payments businesses across a range of vertical markets.”
“Our goal is to create the leader in integrated software and payments in our focus markets,” said Aquiline Chairman and CEO Jeff Greenberg in the release.
Aquiline’s other acquisitions through Fullsteam include Georgiabased formal wear software company BridalLive, California-based selfstorage software firm DOMICO and Connecticut-based equipment rental software company Rental Management Inc.