HOUSTON -

CapStreet Group, which invests in owner-managed, lower middle market companies, has completed the majority recapitalization of TradePending LLC.

TradePending builds software for car dealerships, stating that it uses vehicle pricing data to enable digital retailing and boost online conversions and increase profitability for trade-in vehicles.

TradePending chief executive officer Brice Englert said the new partnership sets the stage for accelerated organic growth.

“From the outset, we were impressed with the CapStreet team,” Englert said of the Houston-based private-equity firm.

Englert also said, “They took the time to not only understand the industry and our business model, but also the culture and spirit that makes our company tick. “As we continue to build a scalable organization, that opens up opportunities for us to explore new areas within automotive as well.”

Englert went on to say, “Our dealer customers continue to face a more competitive market than ever, especially in pre-owned, that necessitates solutions to help them source, manage, merchandise and sell used and new inventory. TradePending has given thousands of dealers a competitive edge for seven years, and this partnership with CapStreet will allow us to be more innovative and aggressive than ever before.”

CapStreet partner Adrian Guerra said TradePending is a dynamic company, and because of its unique value proposition, it has created strong growth momentum. TradePending was founded in 2014 and headquartered in Carrboro, N.C., stating that its software brings accuracy, transparency, and simplicity to its customers.

CapStreet vice president Chas Richard said Englert and the rest of the TradePending management team have built the business well. Richard said Capstreet looks forward to partnering with TradePending in the next phase of growth.

“TradePending has tremendous potential as a platform with numerous opportunities to expand and enhance its solutions through internal investments and add-on acquisitions,” Richard said.

The investment in TradePending is the second investment for CapStreet V, LP, which has $500 million of committed capital.