Dude Solutions CEO: Firm could grow even faster than expected now that it’s been acquired

CARY – Apparently, dozens of companies wanted a piece of “The Dude.”

Hours after it was disclosed that Cary-based company has been sold to Clearlake Capital Group for an undisclosed sum, Dude Solutions CEO Ed Roshitsh confirmed that the company had received a “ton of interest” throughout 2018, and that the final deal had been in the works since last October.

“It’s pretty typical for private-equity firms, when they hit the six-year mark, to pick their heads up and gauge interest,” he told WRAL TechWire.

“We already knew there was a ton of interest in our company. The economy is strong, and our company has never been stronger. So it was just a good time.”

As part of the deal, the software-as-a-service (SasS) provider’s headquarters will remain in Cary, along with its senior management and employees. Its quirky name isn’t going anywhere, either.

“[Clearlake] is a growth investor and bought our strategic vision to grow from where we are today to $300 million and beyond, over the next two to three years,” said Roshitsh, who also plans to remain CEO and bought a stake in the company, alongside the new owners, as part of the deal.

“I volunteered it, and obviously they saw that as a vote of health. This isn’t one of those scenarios where they come in, and everybody has a cardboard box. For most of our employees, this will be just another on Monday.”

Record-setting growth

By all accounts, Dude Solutions is one of Cary’s little-known big success stories.

Founded in 1999, it surpassed $100 million in annual revenue last year, and continues to grow at an astonishing clip – around 25 per year, said Roshitsch.

That could accelerate even more under the new owners, said Roshitsh.

Earlier this week, the company closed on its own acquisition of the EnergyCenter product asset from New Energy Technology.

It was the firm’s sixth acquisition in less than four years, and its first foray into the energy space.

The company already boasts 650 employees nationwide, and announced plans last month to hire up to another 125 personnel over the next 12-18 months.

Nothing has altered those plans, he said.

“This is a very proactive positive thing for our company, our employees, our clients and RTP.”