Accruent Acquired By Genstar Capital

Accruent, the developer of real estate, facilities, and asset management software which was founded by Mark Friendman, has been acquired by private equity investor Genstar Capital. Financial terms of the acquisition were not disclosed. Accruent was venture backed by Constellation Ventures, Pequote Ventures, GGV Capital, Innocal, Marcus & Millichap, Peninsula Equity Partners, Red Rock Ventures, Sierra Ventures, and Stanford University. The company was based in Santa Monica until recently, when it moved its headquarters to Texas; the company still has a Santa Monica office. Accruent was advised by Lazard in the acquisition.