Made2Manage Systems Raises $50 Million Via New Minority Investor Thoma Cressey Equity Partners to Enhance Aggressive Acquisition Strategy
INDIANAPOLIS, Jan. 9, 2006 — Made2Manage Systems, a leading provider of enterprise resource planning software for manufacturers across multiple manufacturing industries, today announced it has raised a total of $50 million from a combination of investment by Thoma Cressey Equity Partners and additional debt provided by Harris Nesbitt to support its aggressive acquisition strategy. As part of the transaction, Thoma Cressey joined majority shareholder Battery Ventures as a shareholder in the company. And, Made2Manage Systems entered into a new banking relationship with Harris Nesbitt that was facilitated by its partnership with Thoma Cressey, allowing for even greater access to capital.
With more than 2,100 customers worldwide, Made2Manage Systems has a 20-year track record of serving nearly 30 manufacturing sectors with a comprehensive package of software, services and support. The company was taken private in 2003 by its executive team and Battery Ventures. Under private ownership, the company completed three acquisitions in 15 months, including the acquisitions of DTR Software International in August 2004, assets of ADS Information Systems in September 2004, and Capri Corp., through its operating subsidiary Cimnet Systems Inc., in December 2005.
"Thoma Cressey's investment is an important catalyst to Made2Manage Systems' growth strategy," said Jeff Tognoni, CEO of Made2Manage Systems. "Since becoming private, we have significantly improved profitability and built the value of our business through improved product quality and strengthened customer relationships. We are thrilled to have Thoma Cressey join us as an investor and, with current investor Battery Ventures, we will continue to aggressively pursue acquisitions of manufacturing software companies."
Thoma Cressey Equity Partners is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 25 years. The firm remains one of few private equity firms with investment expertise in the software industry and specializes in industry consolidation strategies.
"We are excited to partner with Jeff and his team to pursue an aggressive acquisition program for the business," said Orlando Bravo, managing partner at Thoma Cressey and new Made2Manage Systems board member. "We are confident that Made2Manage Systems will be another successful investment for us given the company's experienced management team, excellent market position, and strong acquisition strategy."
"Made2Manage Systems continues to be an outstanding investment for Battery Ventures, and we are pleased to have Thoma Cressey join our team as we work to build and grow the company," said Dave Tabors, general partner of Battery Ventures and chairman of the Made2Manage Systems board of directors. "The partnership increases Made2Manage Systems' already strong access to growth capital."
About Made2Manage Systems Inc.
With more than 2,100 customers worldwide, Made2Manage Systems has a 20-year track record of serving nearly 30 manufacturing sectors, including industrial and commercial machinery, fabricated metals, rubber and plastics, electronics, analytical and measuring equipment, furniture and fixtures, and durable goods. Made2Manage Systems is devoted to establishing strong customer relationships, developing a quality product line based on unique industry specifications, and providing excellence in customer support and professional services.
About Battery Ventures
Founded in 1983, Battery Ventures is a leading venture capital firm focused on investing in technology companies at all stages of growth from seed to later stage and tech buyouts. With a team of more than 25 experienced investment professionals, Battery leverages its people, expertise and capital to actively guide companies to category dominance. The firm has invested in more than 180 technology companies worldwide across the software and communications industries. From its offices in Wellesley, Mass., and San Mateo, Calif., the partnership manages over $2 billion in committed capital, including its new fund of $450 million. The firm's exceptionally strong investment returns have given it one of the best track records in the industry. For more information, visit www.battery.com.
About Thoma Cressey Equity Partners
Thoma Cressey Equity Partners is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 25 years. The firm originated the concept of "industry consolidation" or "buy and build" investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. In the software industry, Thoma Cressey has employed this investing concept consistently, amassing a portfolio of software earnings in excess of $150 million. Thoma Cressey's investment focus is on companies in the software, healthcare, business services and consumer products industries. Thoma Cressey currently manages approximately $2 billion of equity capital. More information about TCEP can be found at www.thomacressey.com.
About Harris Nesbitt
Harris Nesbitt is an investment and corporate bank offering clients access to a full range of products and services, including investment and corporate banking, treasury services, market risk management, institutional investing, and research. Harris Nesbitt is part of Harris, an integrated financial services organization providing more than one million personal, business, corporate and institutional clients with banking, lending, investing, and financial management solutions. Harris Nesbitt is a member of BMO Financial Group. For more information, please visit www.harrisnesbitt.com.
|
