Over 180 Technology M&A Transactions since 1998
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Charlotte, NC; February 12, 2019 — DecisionPoint, a leader in M&A advisory services for middle-market technology companies, announced today that its client, STR, will divest its Grants Management business line to GCR.
GCR Inc. (GCR) will acquire the software and disaster recovery services from STR Grants LLC’s (STR) grants management line of business. STR’s HUD/CDBG technology, eGrantsPlus, joins forces with GCR’s experienced recovery and resilience team as well as MB3’s EMGrantsPro, a FEMA grants management application acquired by GCR in July of 2018. The combined solutions under GCR provide state and local governments with one source for navigating their grants management and recovery needs.
“GCR and STR began a working relationship during the recovery effort for Hurricane Katrina. GCR’s team managed the distribution of federal funding using our application. It was a great match,” said Scott Meyer, Founder and President of STR. “Formalizing this union creates a seamless grants management offering that can be used to help other states recover from natural disasters.”
“This is the second acquisition in our grants management, recovery, and resilience sector,” said Dan Cox, GCR’s Chief Executive Officer. “We’ve combined STR and MB3’s grant management applications with GCR’s HUD and FEMA expertise. The result is powerful – our team brings to market a one-stop solution that has a track record of managing the recoveries of the worst natural disasters in U.S. history.”
About STR
STR, of Fairfax, VA, is a software development and professional services firm supporting clients in the government and private sectors. Founded in 1985, STR developed its original grants management software for the Corporation for National and Community Service, allowing them to eliminate all paper grant applications within a year. Since 2006, STR’s software has been used to support HUD/CDBG Disaster Recovery programs in Mississippi, Louisiana, and New Jersey. STR’s eGrantsPlus has distributed over $15 billion in grant awards to victims of hurricanes Katrina, Rita, and Sandy. For more information, please visit www.strllc.com.
About GCR
Since 1979, GCR has developed an industry-leading suite of services and software focused on grants management, critical infrastructure, land management, elections, and government business services. GCR and its subsidiaries PCC Technology Inc. and MB3 have clients in 49 states. For more information, please visit www.gcrincorporated.com.
About DecisionPoint
DecisionPoint is a unique leader in M&A advisory services for middle-market technology companies and their venture capital investors in the software, services, cleantech, biotech, healthcare IT and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Andy Agrawal, Managing Partner; (704) 759-6162; aagrawal@decisionpointint.com.