Summer Street Sells Dwellworks
Private equity firm Summer Street Capital Partners today announced that its fund Summer Street Capital III, L.P. has exited its investment in Cleveland, OH based Dwellworks, LLC, a provider of global solutions for the relocation management companies (RMCs) who support the mobility needs of relocating employees and their families.
"Our partnership with Summer Street facilitated an aggressive growth plan that significantly grew our operations and service offerings both organically and through acquisition," remarked Bob Rosing, President and CEO of Dwellworks. "Summer Street was a collaborative partner and valuable resource as we executed a global acquisition strategy to better serve our customers across North America, Europe and Asia."
"Dwellworks has an exceptional team. Their commitment to the mission and vision of the company is the driving force to their success. It was important to find a financial partner that was committed to maintaining the unique culture of Dwellworks and would support their high growth trajectory," remarked Christian Gorino, Principal of Summer Street.
Dwellworks management and Summer Street selected a financial buyer with sector experience to continue the legacy of best-in-class service delivery, innovation and compliance.