SAN FRANCISCO and AUBURN HILLS, Mich., June 6, 2012 /PRNewswire/ -- Francisco Partners, a leading technology-focused private equity firm, today announced the pending acquisition of Plex Systems from a group of shareholders, including Apax Partners. Based in Auburn Hills, Mich., Plex Systems is a leading provider of cloud ERP software for manufacturers.
Plex Systems' flagship product, Plex Online, is a "shop floor to top floor" solution providing deep functionality for virtually every department within quality-driven manufacturers. The company has a broad customer base across the automotive, aerospace and defense, food and beverage and electronics industries, where manufacturers are turning to the cloud to streamline and modernize their global operations.
Francisco Partners identified Plex Systems as an early mover in the cloud ERP market with significant recurring revenue and strong growth opportunities.
"We believe that Plex Systems has the potential to lead the transition to cloud ERP for manufacturers, and that this will be as transformative as the adoption of cloud solutions has been to sales, marketing, and human capital management," said Petri Oksanen, a principal at Francisco Partners.
"We are thrilled that Francisco Partners shares our vision and sees the huge opportunity before us," said Mark Symonds, CEO of Plex Systems. "We have entered an era where cloud computing is impacting virtually all business operations, and Plex Systems is among the leaders of this new model for technology development and delivery. Francisco Partners is the ideal partner to enable Plex Systems to help more manufacturers compete and win in the global market."
Francisco Partners was advised by Pacific Crest Securities, and Plex Systems was advised by Lazard. Financial terms of the transaction were not disclosed.
About Francisco Partners
Francisco Partners is a global private equity firm that specializes in investments in technology companies. Since its launch over a decade ago, FP has raised approximately $7 billion and invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm's deep sub-sector knowledge and operational expertise can help a company realize its full potential.
For further information, please visit: www.franciscopartners.com.
About Plex Systems, Inc.
Plex Systems, Inc. is the developer of Plex Online, a Cloud ERP solution for the manufacturing enterprise. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Execution System (MES) and Quality Management System (QMS) for the shop floor, Supply Chain Management (SCM) for procurement, Enterprise Resource Planning (ERP) for finance and management, and Business Intelligence (BI) for executive management. Plex Online's comprehensive functional coverage delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Mich., with customers around the globe.
For further information, please visit: www.plex.com.
SOURCE Plex Systems, Inc.