Charter Software Acquired by Constellation

ClearCreek Partners served as exclusive financial advisor to CEO Anne Salemo and Charter Software in their acquisition by Constellation Software. Charter provides cloud and installed business management software, featuring its flagship ASPEN product, for small and midsize equipment dealers and distributors. The Company is based in LIttleton, Colorado.

Founded in 1978, Charter Software was a family-run business up to the acquisition. Under second-generation leadership from Anne, Charter evolved from a hobbyist software program written by her father Gary Fricke, to mission-critical software that enabled the success of SMB dealers and ensured a healthy ecosystem between original equipment manufacturers and their strategic dealer networks.

A public company on the Toronto Stock Exchange (CA::CSU) with a market capitalization of almost $30 billion, Constellation Software’s acquisition of Charter further expands their presence and market leadership in dealership management systems. Charter will operate under the Perseus division of Constellation, and will continue to to be headquartered in Littleton.

It’s often hard for a business to transition ownership outside the founding family. However Anne was clear-eyed and steadfast about her objectives: she had her personal financial goals, but above all else she prioritized her employees and customers. From our first meeting, Anne stressed that she wanted stability and opportunities for Charter’s 40+ employees, and a buyer who would provide customers with the same commitment to service as well as an expanded infrastructure and technology platform. Despite the ups and downs of the process, Anne stood by these convictions, and they helped guide her evaluation of numerous offers as well as her eventual choice of Constellation. It was a privilege and pleasure for ClearCreek to work with Anne and her team, and we relish the chance to see where she next devotes her energy and values.