Dallas-based Tango is getting an early Christmas gift — an equity investment from Berkshire Partners.
The real estate and facilities platform was founded in 2008 in Dallas. It offers end-to-end, cloud-based solutions for real estate needs, including site selection, project management, lease administration and accounting, facilities maintenance and space management.
Tango, which has 150 customers, will use the cash injection to accelerate domestic and international growth. Its customers span across all industries, from health care to retail, and range from companies with a few dozen locations to those with more than 40,000 locations.
“In a post-COVID world, active management of real estate and facilities is more important than ever, and companies require solutions to help them stay in sync with a dynamic environment,” said Jon Nuger, principal at Berkshire Partners.
As part of the deal, Tango’s founder and CEO, Pranav Tyagi, the Tango management team and Charlotte, N.C.-based software private equity firm Frontier Growth will continue to hold stakes in the company.
Frontier Partners was impressed with its “incredible roster of clients,” Andrew Lindner, partner at Frontier Growth, said in the announcement.
Tango’s clients include Panera Bread, Guitar Center, AT&T, Casper, Wendy’s, Verizon, Whole Foods Market, Rite Aid and Subway, according to its website.
Shea & Co. LLC served as exclusive financial adviser and Reed Smith LLP was the legal adviser to Tango on the transaction. Ropes & Gray LLP was the legal adviser to Berkshire Partners.