{"id":4606,"date":"2024-11-14T17:14:13","date_gmt":"2024-11-15T01:14:13","guid":{"rendered":"https:\/\/stg.com\/?p=4606"},"modified":"2024-11-14T17:18:07","modified_gmt":"2024-11-15T01:18:07","slug":"dodge-construction-network-enters-next-phase-with-executive-leadership-changes-and-100-million-of-new-capital","status":"publish","type":"post","link":"https:\/\/stg.com\/news\/dodge-construction-network-enters-next-phase-with-executive-leadership-changes-and-100-million-of-new-capital\/","title":{"rendered":"Dodge Construction Network Enters Next Phase with Executive Leadership Changes and $100 Million of New Capital"},"content":{"rendered":"<p><strong>Changes position Dodge for its next chapter of growth<\/strong><\/p>\n<p><a href=\"https:\/\/www.construction.com\/company-news\/dodge-construction-network-enters-next-phase-with-executive-leadership-changes-and-100-million-of-new-capital\/\" target=\"_blank\" rel=\"noopener\">Dodge Construction Network<\/a> (\u201cDodge\u201d or the \u201cCompany\u201d), a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates \u201cClearlake\u201d) and STG Partners, LLC (\u201cSTG\u201d), today announced significant business milestones including executive changes and the successful closing of a financing transaction.<\/p>\n<p>Dodge raised $100 million of new capital and extended debt maturities, further bolstering its liquidity position and financial flexibility. The transaction is open to holders of all of its existing first lien and second lien term loans.<\/p>\n<p>Dodge also announced today that Andrew Somosi has been appointed as the Company\u2019s new Chief Executive Officer, replacing Daniel McCarthy, who is stepping down. Mr. Somosi was most recently Head of the Americas at Gerson Lehrman Group (GLG), and previously held leadership roles at Nielsen, Lattice Engines and LexisNexis, after beginning his career at McKinsey &amp; Company.<\/p>\n<p>In addition, Johann Dudley has joined Dodge as Chief Product Officer. Mr. Dudley most recently held product leadership roles at Flywheel Digital (acquired by Omnicom) and Nielsen.<\/p>\n<p>\u201cI am excited to join Dodge to help drive its next chapter of growth and business transformation. In my extensive research preparing for my role, I was impressed by the breadth and scale of Dodge\u2019s lead-generation, marketing, analytics and consulting solutions, which empower tens of thousands of companies to grow their businesses in the multi-trillion dollar U.S. commercial construction industry,\u201d said Mr. Somosi. \u201cWe are pleased with the successful completion of this transaction, which strengthens our financial position and provides ample flexibility to pursue growth and innovation. The continued support of Clearlake and STG highlight their confidence in Dodge\u2019s opportunities and potential.\u201d<\/p>\n<p>\u201cThis new capital and the strengthening of the leadership team represent important milestones on Dodge\u2019s journey,\u201d said Ben Kruger, Principal at Clearlake and Adam Hendricks, Managing Director at STG. \u201cWe thank Dan for his service and look forward to supporting Andrew and the Dodge team in its quest to serve the commercial construction industry and power its customers\u2019 growth.\u201d<\/p>\n<p><strong>About Clearlake<br \/>\n<\/strong><a href=\"http:\/\/www.clearlake.com\">Clearlake Capital Group, L.P.<\/a> is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from\u00a0Clearlake\u2019s\u00a0operational improvement approach,\u00a0<em>O.P.S.<sup>\u00ae<\/sup><\/em> The firm\u2019s core target sectors are technology, industrials, and consumer.\u00a0Clearlake\u00a0currently has over\u00a0$85 billion\u00a0of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in\u00a0Santa Monica, CA\u00a0with affiliates in\u00a0Dallas, TX,\u00a0London, UK,\u00a0Dublin, Ireland\u00a0Singapore\u00a0and\u00a0Abu Dhabi, UAE.<\/p>\n<p><strong>About STG<br \/>\n<\/strong>STG is a private equity partner to market-leading companies in data, software, and analytics. The firm brings experience, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market-winning portfolio companies, STG creates sustainable foundations for growth that bring value to existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG\u2019s expansive portfolio has consisted of more than 50 global companies.<\/p>\n<p><strong>About Dodge Construction Network<\/strong><br \/>\n<span data-teams=\"true\"><span class=\"ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak\" dir=\"ltr\">Dodge Construction Network harnesses data, analytics, and industry connections to be the leading source of insights and opportunities in the commercial construction industry. With five trusted solutions-<strong>Dodge Construction Central, The Blue Book, Sweets, IMS,<\/strong>\u00a0<strong>and\u00a0<\/strong><strong>Principia<\/strong>-Dodge connects construction professionals across all stages of the building process. Designed for both small teams and large enterprises, these tools simplify complexity, empowering you to build thriving businesses and communities. With over a century of experience, Dodge Construction Network is the catalyst for modern construction.\u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Changes position Dodge for its next chapter of growth Dodge Construction Network (\u201cDodge\u201d or the \u201cCompany\u201d), a portfolio company of Clearlake Capital Group, L.P. (together with its affiliates \u201cClearlake\u201d) and STG Partners, LLC (\u201cSTG\u201d), today announced significant business milestones including executive changes and the successful closing of a financing transaction. Dodge raised $100 million of&hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"node_moved":[],"footnotes":""},"categories":[],"tags":[],"company":[111],"class_list":["post-4606","post","type-post","status-publish","format-standard","hentry","company-dodge-construction-network"],"acf":[],"yoast_head":"\n<title>Dodge Construction Network Enters Next Phase with Executive Leadership Changes and $100 Million of New Capital - STG<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/stg.com\/news\/dodge-construction-network-enters-next-phase-with-executive-leadership-changes-and-100-million-of-new-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dodge Construction Network Enters Next Phase with Executive Leadership Changes and $100 Million of New Capital - STG\" \/>\n<meta property=\"og:description\" content=\"Changes position Dodge for its next chapter of growth Dodge Construction Network (\u201cDodge\u201d or the \u201cCompany\u201d), a portfolio company of Clearlake Capital Group, L.P. 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