Aspire Software has announced that it has entered into a definitive agreement to be acquired by ServiceTitan.
The deal would represent ServiceTitan's largest acquisition to date and its second acquisition in the last twelve months, following the company's acquisition of ServicePro, the software provider for the pest, lawn and arbor industries.
ServiceTitan, most recently valued at $9.5 billion, powers more than 7,500 trade businesses across various home and commercial service verticals, including plumbing, air conditioning, electrical, and more.
“While we started in plumbing, HVAC, and electrical, our mission from day one has been to help hardworking contractors reach the level of success they deserve,” said Ara Mahdessian, CEO and co-founder of ServiceTitan. “As we’ve grown, we’ve looked for like-minded partners in the trades to help us achieve this mission at scale.”
Evaluating the landscaping industry, looking for technology companies that shared a similar vision, he said Apsire stood out from the rest.
“Both Aspire and ServiceTitan were born out of a desire to improve the lives of contractors who work tirelessly to serve their communities, but who have historically been underserved by technology," Mahdessian says. "Mark and his team at Aspire have more than 500 years of combined experience in the commercial landscaping industry. Just like we built ServiceTitan to solve the problems our fathers faced, it's that first-hand industry knowledge that has enabled Aspire to build the most powerful software in the industry with the highest customer satisfaction."
Founded in 2014 by Mark Tipton and Kevin Kehoe, Aspire helps landscaping contractors grow their businesses nearly two times the industry average while increasing margin. The company powers hundreds of commercial landscapers that collectively count more than 50,000 and perform just under $4 billion in annual transactions across landscaping, snow and ice, and construction.
“We’re here to make customers successful above all else,” says Mark Tipton, CEO and co-founder of Aspire. “From the first time we heard the founding story from Ara and Vahe Kuyozan, we knew there was something special there. We share a similar mission to improve the lives of contractors and provide the software they need to run a successful business and get back their peace of mind.”
ServiceTitan will acquire Aspire from the founders and growth equity investor Mainsail Partners. As a part of the acquisition, Aspire will continue to build its business in St. Louis with the support and investment of ServiceTitan. Aspire customers can expect some immediate product enhancements, and over time, access to ServiceTitan's suite of Pro Products to fuel growth and enable contractors to deliver an even better customer experience. Software programs will not be integrated at this time but the overall teams of engineers will be.
"We're thrilled to join forces with the ServiceTitan team to revolutionize the landscaping industry with best-in-class software," Tipton says. “With their support, we'll be able to invest more than ever before into product development, customer support, and growth,” he says. “As a result, we'll dramatically accelerate our mission of making contractors successful."
Aspire was recently named one of America's Fastest Growing Companies by the Financial Times and one of the top 10 fastest growing companies in St. Louis by the St. Louis Business Journal. With more than 100 employees today, Aspire will grow its team with top talent in St. Louis, particularly in product and engineering.
