Press Releases
Posted March 4, 2013

Prodagio Software Has Received a Significant Growth Investment from Teakwood Capital

Software & Tech-Enabled Services,
Business Services
Transaction Type
Mergers & Acquisitions
League City, Texas

HOUSTON, March 4, 2013 – GulfStar Group (“GulfStar”) is pleased to announce that Imagitek, Ltd. d/b/a Prodagio Software (“Prodagio” or the “Company”) has received a significant growth investment from Teakwood Capital, LP (“Teakwood”). GulfStar served as exclusive financial advisor to Prodagio throughout the transaction, which closed on February 5, 2013.

Prodagio is a leading provider of mission critical, cloud-based and on-premise Accounts Payable Automation and Contracts Lifecycle Management solutions which are deployed by a large and growing base of Fortune 500 and midrange enterprise customers across multiple industry verticals. The Company is headquartered in League City, Texas.

The GulfStar transaction team included Managing Director Scott Winship, Managing Director Joe Watt, Vice President Chris Coonfield, Associate James Berry and Analyst Nico Gayle. “This is a very exciting transaction for Prodagio as it enables the Company to immediately accelerate its market penetration efforts and expand on its leadership position in AP Automation and CLM. The strategic partnership with Teakwood is an ideal fit for Prodagio as it brings strong capital support to meaningfully ramp the Company’s sales force expansion, and highly valuable industry relationships and expertise that will benefit the business well into the future. We congratulate Mara Henderson and the Prodagio team for building an exceptional business with a terrific history of success and enormous future potential,” said Winship.

About Teakwood Capital
Teakwood is a Dallas, Texas-based private equity firm specializing in growth capital investments and majority recapitalizations for Companies with Enterprise Values up to $25 million. The firm’s Managing Directors bring over 160 years of combined operational and financial expertise to assist companies in reaching their full potential. Teakwood has a geographical focus on Texas and neighboring states, and invests in a wide variety of industry sectors with an emphasis on technology-based investments. Additional information can be found on Teakwood’s website (

About GulfStar Group
GulfStar is a leading middle market investment and merchant bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed over 575 transactions in more than 30 states and seven foreign countries across a variety of industries. Through its merchant banking affiliate, the firm also makes equity and subordinated debt co-investments.

Securities offered through GulfStar Group I, Ltd. an affiliated entity, member FINRA – SIPC

GulfStar Group
700 Louisiana Street
Suite 3800
Houston, Texas 77002


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