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PennSpring Capital buys education technology software provider

Private equity firm PennSpring Capital acquired education technology software provider Professional Systems Software & Technology in a deal finalized July 20.

Louisville, Ky.-based Professional Systems Software provides data integration solutions for school districts and municipalities, with close to 800 customers across 42 U.S. states. Lancaster, Pa.-based PennSpring backs lower-middle-market companies in fragmented industries.

American Fortune Mergers & Acquisitions was the exclusive financial adviser to Professional Systems Software, with Slone & Benton PSC serving as its legal adviser. K&L Gates LLP was the legal counsel to PennSpring Capital.