A CPG software asset is moving from Bain Capital and SilverTree Equity to Oakley Capital, which agreed to acquire a majority stake in XTEL, a provider of revenue management and trade promotion software.

The company operates in an estimated $11 billion CPG software market, and annual recurring revenue has increased at about a 40% CAGR over the past three years.

XTEL’s platform brings sales, pricing, customer and financial data into one system used by food, beverage and household products brands to plan and manage trade promotions with retailers.

Oakley Capital plans to support a push into Latin America and Asia-Pacific, acquisitions, AI product development, sales capabilities and go-to-market work.

CEO Rob Mullen will continue to lead the company after overseeing XTEL’s move to a system-of-record SaaS platform.