CAI Software, a provider of software solutions for manufacturing organizations, looks at M&A opportunities to help double its revenue in about five years, CEO Brent Pietrzak said.

Backed by STG, the company would acquire businesses with solutions aimed at improving the quality of the manufacturing process or the warehouse management, the CEO explained.

The Salt Lake City-headquartered business evaluates targets globally, although most acquisition opportunities are in North America and Europe, he said. The company considers targets of various sizes, ranging from small businesses to companies as large as itself, he added. Ideally, CAI would like to pursue increasingly larger transactions over time, he said.

The company prefers profitable targets, particularly those whose solutions can be applied across all three of CAI’s divisions, or at least two of them: process manufacturing, discrete manufacturing, and graphic communications and printing, Pietrzak said. CAI has historically acquired 100% ownership of its targets and intends to continue doing so.

Pietrzak noted that the solutions provided by PlanetTogether, which CAI acquired in June, can be used across all three divisions. PlanetTogether is a provider of advanced planning and scheduling software for process and discrete manufacturers.

CAI generates more than USD 200m in annual revenue, is profitable, and employs more than 800 people, he said. Approximately 70% of its revenue comes from North America, with the remaining 30% generated in Europe.

The company manages its M&A activities in-house with support from its investors, Pietrzak said, adding that management has an extensive industry network.

“It is a good time for buyers,” he said, noting that the number of opportunities has increased over the past year. At any given time, CAI is in discussions with around five acquisition targets and maintains an active M&A pipeline, he added. He did not provide a timeline for the next deal.

Future acquisitions will be financed through a combination of cash and debt, he said.

CAI was founded in 1978 and merged with Print ePS, a provider of manufacturing ERP and production software for the graphic communications industry, in October 2025. STG was the lead investor in both companies and remains the majority shareholder of the combined business, Pietrzak said. The company is currently held in STG’s Fund VII, he added. Fund VII closed fundraising in 2023.

This year in addition to PlanetTogether, CAI acquired LLumin in August. LLumin is a provider of industrial computerized maintenance management system (CMMS) software serving mid-market and enterprise manufacturers. The integration process is expected to take approximately six months, he said.

CAI serves customers in more than 15 core industries, including process manufacturing, discrete manufacturing, and graphic communications, across more than 10 countries.

Given the broad scope of its product portfolio, the company competes against different vendors depending on the market segment, he said.