CAI Software Announces Majority Investment from Symphony Technology Group (STG) | Your money
SMITHFIELD, RI, December 13, 2021 (GLOBE NEWSWIRE) – CAI Software, LLC (âCAIâ), a leading publisher of production-oriented critical software for the manufacturing and distribution industries at scale global, today announced that it has received a majority investment from Symphony Technology Group (âSTGâ), a private equity partner of leading software, data and analytics companies. This partnership includes a significant investment to strengthen CAI’s market leadership and product innovation across its portfolio of solutions, including ERP, MES, EDI, WMS and process automation. STG’s support will accelerate the growth of CAI in partnership with its existing owners and management team through organic and inorganic initiatives aimed at deepening and expanding CAI’s capabilities.
âCAI’s long-time customers and employees have helped create our market-leading end-to-end production software platforms for producers, manufacturers and distributors. This new partnership with STG will allow us to better support our customers and employees while accelerating our marketing and product development efforts, âsaid Brian Rigney, CEO of CAI.
âFrom our first conversations, STG differentiated itself by valuing CAI’s knowledgeable team and the products and services we provide to our loyal customers. Through this process, STG took the time to get to know our customers, understand their use of our products and their interactions with our employees, âadded Rigney. âBecause of the depth of these discussions and its transparent dialogue, I have no doubts that STG will be an exceptional partner for our employees, our customers and our shareholders. “
âWe are very impressed with CAI’s portfolio of mission-critical solutions serving a very loyal customer base in the manufacturing and distribution industries. CAI has been a great partner to its customers by providing the best vertical features and high quality customer service, âsaid William Chisholm, Managing Partner of STG. âWe are very pleased to partner with Brian and the rest of the high caliber team to expand CAI’s market leadership in the manufacturing and distribution sectors through organic investments and a merger strategy. and acquisition. “
âWe are delighted that STG is taking on a leadership role as a new growth-oriented partner for CAI. CAI takes pride in providing high quality software to its customers, and we look forward to continuing to support the CAI leadership team as they leverage STG’s resources to accelerate growth, âsaid John Bingaman, Managing Director of Iron Creek Partners LLC and former Chairman of the Board of Directors of CAI.
CAI has more than 900 mid-market and corporate clients around the world, in several key verticals including food and beverage, lumber and building materials, aerospace and defense, metal fabrication, automotive, manufacturing and distribution.
Evercore was the exclusive financial advisor and Weil, Gotshal & Manges LLP was CAI’s legal advisor. Locke Lord acted as due diligence advisor to CAI. Paul Hastings LLP acted as legal advisor and PricewaterhouseCoopers LLP as accounting advisor to STG.
About CAI software
CAI Software, LLC is a recognized leader in providing Enterprise Resource Planning (ERP), Manufacturing Execution Systems (MES), Warehouse Management Software (WMS), Electronic Data Interchange (EDI) and business process. Automation software and services (EPA) for companies that are leaders in certain industry verticals including building materials, food processing, precious metals, manufacturing and distribution. We are based in Rhode Island, USA. For more information, please visit www.caisoft.com.
Symphony Technology Group (STG) is a private equity partner that markets leading companies in data, software and analytics. The firm brings its expertise, flexibility and resources to create strategic value and unleash the potential of innovative companies. By partnering to create market-leading, client-centric portfolio companies, STG seeks to create a lasting foundation for growth that brings value to the companies with which it partners. The company is dedicated to transforming and building exceptional technology companies in partnership with leading management teams. STG’s extensive portfolio includes more than 35 global companies. For more information, please visit www.stgpartners.com.
Wendy Stanley, Sr. Dir. marketing
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