Capstreet Acquires hh2 Cloud Services, a Leading Provider of Construction Industry Software

February 2, 2022

Will serve as a platform for Capstreet’s future industry investments

HOUSTON, TX, February 2, 2022 – The Capstreet Group (“Capstreet”), a Houston-based lower middle market private equity firm, announced today that it has acquired hh2 Cloud Services (“hh2” or “the Company”), a leading provider of software for the construction industry. Financial terms of the transaction were not disclosed.

Founded in 2004 and based in Kaysville, UT, hh2 is a provider of modular software solutions that help construction companies effectively manage their field employees and operations, with streamlined integration into their primary ERP system software. hh2’s solutions allow contractors to perform essential business functions such as payroll, invoice routing and approval, applications for payment, compliance, daily logging, dispatch, and various HR tasks with greater ease, efficiency and productivity. The Company’s software integrates with leading construction ERP platforms and multiple Project Management Software platforms. CEO Devon Dorrity and the senior management team will remain with the Company.

“We’re impressed with hh2’s powerful technology and integration capabilities, supported by a talented team, which makes it a strong platform from which to build our future construction software investments,” said Paul De Lisi, Partner at Capstreet. “Demand for software solutions in this industry has been growing significantly as companies look for ways to improve their operational efficiency. We look forward to working with Devon and the entire hh2 team as we seek to grow the business both organically and through strategic acquisitions.”

“We’re excited to partner with the Capstreet team, leveraging their experience and resources to help us  take advantage of new market opportunities and further our growth,” said Mr. Dorrity. “Capstreet’s support will be a game-changer for hh2 as we look to add complementary solutions and expand our reach, while continuing to deliver valuable technology and services to our partners and customers.”

About hh2 Cloud Services

After nearly two decades, hh2 Cloud Services® continues to advance cloud-based construction management solutions for the commercial construction space. hh2 offers solutions for time-entry, punch clock, AP routing & approval, credit card transaction coding, reimbursement coding, document routing & approval, applications for payment, human resources, daily logs, service management, dispatch, data aggregation, and pay stubs. hh2 also provides robust, scalable, construction integration-platform-as-a-service (iPaaS) with the Universal Construction Model® (UCM®). Please visit www.hh2.com for more information.

About The Capstreet Group

Founded in 1990, Capstreet invests in lower middle market software, tech-enabled services, and industrial business services companies. With over 45 platform investments and over 200 add-on acquisitions since inception, Capstreet’s investment strategy is focused on utilizing its Capvalue FrameworkTM to accelerate growth and profitability, and create long term sustainable businesses. The majority of Capstreet’s investments have been with founder- or entrepreneur-owned businesses. For more information, visit the Capstreet website, www.capstreet.com.