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FOG Software Group
Fog Software Group is a division of Vela Software and Constellation Software, both based in Toronto. Founded in 1995, it is headquartered in Deerfield,...
FOG Software Group
Fog Software Group is a division of Vela Software and Constellation Software, both based in Toronto. Founded in 1995, it is headquartered in Deerfield, Illinois. The company has made 21 investments, including one in Computer Solutions, Inc.
General information
Firm type
Private Equity
Year founded
1995
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Cameron Fortier
Host of The Vertical Software Podcast (identified as a contact/discussion lead on firm website)
Sector focus
Frequently asked questions
Does FOG Software Group ever sell its portfolio companies?
No. FOG explicitly states on its website that 'We Never Sell.' The firm's model is to acquire vertical market software businesses and operate them indefinitely under the Constellation Software umbrella, providing a permanent home for legacy software products.
How is FOG Software Group related to Constellation Software Inc.?
FOG is a division of Constellation Software Inc., a publicly traded company. It operates as one of the buy-and-manage units within Constellation's decentralized structure, focusing on vertical market software acquisitions.
What types of software businesses does FOG acquire?
FOG targets vertical market software businesses — ERP and specialized operational software serving niche industries. Public examples include tire retail and wholesale systems (TireMaster), glass manufacturing and fenestration software (FeneVision, A+W, etc.), textile and fashion design tools (Aquario), and construction-materials testing applications.
Who manages investment decisions and acquisitions at FOG?
The firm states that conversations with prospective sellers involve a senior operator alongside corporate development and M&A team members. Cameron Fortier is identifiable as a key deal-facing principal, but the firm does not publicly list a formal executive leadership roster beyond its podcast host and designated contact points. Internal legal, finance, tax, and M&A teams handle the transaction process from offer to close.
What is FOG's acquisition process?
FOG describes a staged approach: an initial meeting to build a relationship, followed by a non-disclosure agreement, open discussions about future operating plans, a letter of intent, due diligence led by in-house teams, and finally closing. The firm emphasizes speed and certainty, citing over 600 completed transactions and standardized legal templates.
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