#IndustrialSoftware

Connected Worker & Field Service Enablement Technology

The industrial field service market lacks a cohesive solution to aggregate asset maintenance data and institutional knowledge in order to inform mobile technicians around complex fixes across disparate asset types, OEMs and settings.

LLR’s Industrial Software team is seeking to build a platform of workforce enablement solutions for asset intensive end-markets, including critical infrastructure, manufacturing, HVAC, utilities and others. CEOs and intermediaries in the space should contact Katie Lankalis to discuss relevant opportunities for investment.

For businesses that rely on trades and technical workers, the talent gap is real, and it’s growing wider by the year. Those that invest in their own training programs will be able to sidestep fierce competition for qualified talent by building their own. The ability to train unskilled and entry-level workers for specialized technical roles helps these companies become an employer of choice and ensure they have the talent they need to compete, innovate and grow.

Katie Lankalis, Vice President, LLR Partners

The Opportunity for Industry 4.0 to Connect Workers

Industry Tailwinds

Three primary industry trends present the need and growth opportunity for workforce enablement solutions for asset intensive end-markets including critical infrastructure, manufacturing, HVAC, utilities and others.

  • Digitization of industrial settings drives more pervasive adoption of mobile apps that impact worker productivity and communication.
  • Challenging backdrop of supply chain constraints and skilled labor shortages, making proactively detecting and addressing performance issues more mission critical than ever.
  • Service organizations need to improve abilities to receive and serve requests from machine customers due to the proliferation of IoT technology to enable a shift to a predictive maintenance ecosystem.

Value Proposition for Connecting Workers

We believe there is an opportunity to layer in Industry 4.0 technologies to enable a shift to real time preventative maintenance, enabling ROI to be driven by:

  • Optimizing asset maintenance efficiency
  • Lengthening the useful life of equipment
  • Reducing labor, downtime associated with maintenance and capital costs
  • Attracting, retaining, and training a qualified and efficient workforce

Areas of Interest

Relevant product categories of interest include:

  • Knowledge management & training
  • Mobile data entry
  • Dynamic forms/checklists
  • Live video assistance
  • Augmented reality
  • Routing & scheduling

Skilled labor shortages make preventative maintenance more critical than ever

>50%
1
of field service management deployments will include mobile collaboration and knowledge sharing tools by 2025, up from <10% in 2019
53%
2
of America's skilled trade workers are over the age of 45
62%
3
of U.S. firms are already struggling to fill important skilled trade positions

Get to Know LLR Partners

25 Year History of Investing in Technology & Services

  • Founded in 1999, LLR is a growth oriented private equity firm investing in high growth, disruptive technology and services companies
  • Raised over $7.0 billion of capital across seven funds
  • We are focused on organic, topline growth initiatives and complementary acquisitions to create value for all stakeholders
  • Dedicated focus in industrial IoT, asset tracking and remote monitoring

Operational Support

  • Leverage best practices developed through codifying successful strategies across our 130+ investments since inception
  • Access LLR’s Value Creation Team (strategy, talent, S&M, Product, finance, M&A) to help accelerate growth

Focus on Partnership

  • Flexible capital provider (majority or minority ownership)
  • Reward and motivate key players with equity

Investment Criteria

  • Proven business model with $10M+ of revenue
  • Ability to invest $30 – $150M of equity
Select Investment Experience

LLR invests in the sectors where our investment experience indicates there are attractive business models and market trends supporting strong growth potential. Here are some of our related investments in industrial IoT, asset tracking and remote monitoring.

Latest GrowthBits

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#Industrial Software
Platform Convergence Will Transform Remote Asset Monitoring
Dan Irwin / Principal
#Talent
Skilled Labor is Vanishing. These Companies Got Creative to Address the Talent Shortage.
Katie Lankalis / Principal
#Industrial Software
The Smart Building Has Evolved: Here’s How Technology Vendors Can Gain an Advantage
Lee Odess / former LLR Senior Operating Advisor, founder of Group 337 and SVP at Latch
#Technology
Considering an Industrial IoT (Internet of Things) Strategy? Read This First.
Joel Young / Board Director

See You There?

January 22, 2024
AHR Expo
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February 27, 2024
Distributech
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May 6, 2024
Field Service USA

Meet the LLR Team

David Stienes

David Stienes
Michael Levenberg

Michael Levenberg
Katie Lankalis

Katie Lankalis
Mike Zabin

Mike Zabin
Sara Coyne

Sara Coyne

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References

  1. Nicastro, Sarah. “The 2020 Gartner Magic Quadrant for Field Service Management Paints a Picture of Progress,” Gartner, 2020, https://futureoffieldservice.com/2020/07/13/the-2020-gartner-2020-magic-quadrant-for-field-service-management-paints-a-picture-of-progress/
  2. Kinning, Jon. “3 reasons causing the skilled trades labor shortage.” RKindustries, 2022. https://rkindustries.com/3-reasons-causing-the-skilled-trades-labor-shortage/  
  3. “Vocational skills – skilled trades are in demand as boomers retire.” Adecco, 2016, https://www.adeccousa.com/employers/resources/skilled-trades-in-demand/
Disclaimer:

The information presented herein is intended for an audience of potential LLR portfolio companies and the intermediaries supporting their capital raise processes. Named LLR investments presented herein do not reflect a complete list of LLR investments and are provided for informational purposes only. Certain statements about LLR made by portfolio company executives and other quoted parties herein are intended to illustrate the work of LLR’s Value Creation Team with such portfolio companies or reflect the individual’s perspective on the featured industry sector. Such portfolio companies are controlled by investment vehicles managed by LLR. Quoted parties were not compensated in connection with their participation, although they generally receive compensation and investment opportunities in connection with their portfolio company or Senior Operating Advisor roles, and in certain cases are also owners of portfolio company securities and/or investors in LLR-sponsored vehicles. Such compensation and investments subject participants to potential conflicts of interest in making the statements herein.