PSG Equity invests in XBE

PSG Equity acquired a minority interest in XBE on 19 August 2026, alongside founder and chief executive Sean Devine and Banneker Partners, both of which retained significant holdings. Devine continued to lead the business, and Bill Skarinka and Evan Ocko led the transaction for the investor. Founded in 2016 and based in Kansas City, XBE develops software for contractors and producers handling bulk materials, coordinating the movement of asphalt, aggregates and ready-mixed concrete between plants and work sites. Its platform combines the scheduling of crews and trucks, the dispatch of loads, the pricing of jobs, the financial record of each operation and the telematics data from vehicles. Timing governs the economics of these materials. Asphalt and concrete set within hours of production and cannot be stored, so a load dispatched too early or too late is wasted, while trucks waiting at a plant or a site earn nothing, which is what makes the coordination of the two ends of the journey the point at which the margin is made or lost. The company released two products during 2026, an automation layer capable of executing operational tasks from start to finish and a dispatch optimisation system for ready-mixed concrete built into the BCMI product acquired the previous year. Banneker Partners had invested in 2024, since when the business had acquired BCMI and Gauge and extended its customer base, and the capital was directed at product development and recruitment. Piper Sandler advised XBE and Banneker Partners as exclusive financial adviser, with Orrick, Herrington & Sutcliffe as legal counsel, while RBC Capital Markets advised PSG Equity, with Weil, Gotshal & Manges as counsel.

By taking control of XBE, PSG Equity continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Diapason in 2023.