JMI and Hellman & Friedman Complete Acquisition of Activant Solutions, Inc.
SAN FRANCISCO, Calif. and LIVERMORE, Calif., May 3, 2006 – Activant Solutions Inc., a leading provider of vertical business management solutions, today announced the completed acquisition of Activant Solutions Holdings Inc. and all its subsidiaries by funds affiliated with private equity firms Hellman & Friedman LLC, Thoma Cressey and JMI Equity from funds affiliated with HM Capital Partners LLC, effective May 2, 2006. The new investment partners bring a strong track record of helping software businesses achieve their strategic and financial objectives.
Activant is also announcing that Pervez Qureshi has been named president and CEO of the company. An Activant employee since 1994, Qureshi has developed extensive knowledge of the company’s customers and key markets through the broad range of executive positions he has held during his tenure with the company. In his most recent role as chief operating officer, Qureshi oversaw company-wide operations through its recent growth and acquisition phase. Qureshi brings over 20 years of high-tech industry management experience.
“Participating in Activant’s rapid growth over the past twelve years has been both exciting and challenging,” said Pervez Qureshi, president and CEO of Activant Solutions. “I look forward to working with our board, employees and customers to strengthen our market leading position in each of our businesses, enhance our customer service, and deliver high-quality product offerings.”
“Since 1972, Activant has grown, thrived and evolved as a company,” said David Tunnell, managing director of Hellman & Friedman LLC. “We are excited about working with Activant as it enters this next chapter of growth and development. In particular, we are enthusiastic about our partnership with Pervez, a strong leader who we believe will bridge the company’s solid past with its bright future.”
Activant is a premier technology provider of vertical business management solutions serving small- and medium-sized retail and wholesale distribution businesses. Activant provides customers with software, professional services, content, supply chain connectivity, and analytics. More than 30,000 customer locations use an Activant solution to manage their day-to-day operations.
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About Hellman & Friedman LLC
Hellman & Friedman LLC is a San Francisco-based private equity investment firm with additional offices in New York and London. Since its founding in 1984, the Firm has raised and through its affiliated funds managed over $8 billion of committed capital. The Firm's strategy is to invest in superior business franchises and to be a value-added partner to management in select industries including software, financial services, media, professional services, and energy. The Firm is one of the leading private equity investors in vertical market software businesses. Hellman & Friedman has invested in several of these businesses, including Blackbaud (BLKB), Mitchell International, Inc., and Vertafore, Inc. For more information on Hellman & Friedman, visit www.hf.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. In the software industry, Thoma Cressey has amassed 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. For more information on TCEP, visit www.thomacressey.com.
About JMI Equity
JMI Equity, based in Baltimore and San Diego, is a private equity firm exclusively focused on investments in the software and business services industries. Founded in 1992, JMI has invested in over 65 companies throughout North America and has approximately $700 million of capital under management. JMI invests in growing businesses. The firm's focus is on providing the first institutional capital to self-funded companies. JMI also invests in select recapitalization and management buyout financings. Representative investments include Blackbaud, Inc., DoubleClick, Inc., Jackson Hewitt, Inc., Mission Critical Software, Inc. (acquired by NetIQ, Inc.), NEON Systems, Inc. (acquired by Progress Software Corporation), Transaction Systems Architects, Inc. and Unica Corporation. For more information on JMI Equity, visit www.jmiequity.com.
About Activant Solutions
Activant Solutions Inc. ("Activant") is a leading technology provider of vertical business management solutions serving small and medium-sized retail and wholesale distribution businesses. The company serves three primary vertical markets: automotive aftermarket, hardlines and lumber; and wholesale distribution.
Founded in 1972, Activant provides customers with tailored proprietary software, professional services, content, supply chain connectivity, and analytics. More than 30,000 customer locations use an Activant solution to manage their day-to-day operations.
Activant has operations in California, Colorado, Connecticut, Illinois, New Jersey, Pennsylvania, South Carolina, Texas, Utah, Canada, France, Ireland, and the United Kingdom. For more information, please visit www.activant.com.
The statements contained in this document which are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements as to industry trends, future products or services, and products or service line growth or performance. Investors are cautioned that forward-looking statements are inherently uncertain and subject to risks. Actual results may differ materially from the future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include but are not limited to unrealized market demand for our services, the ability to retain the people performing services, and those risks and uncertainties identified in Activant's most recent Annual Report on Form 10-K which has been filed with the United States Securities and Exchange Commission. Activant assumes no duty to update information contained in this document at any time.
Press Contact: Jane Gideon, Incendio International for Activant Solutions
Tel: 415-293-8259
jane@incendiopr.com
