Halyard Capital Announces Sale of StratEx to Toast

NEW YORK, July 26, 2019 /PRNewswire/ -- Halyard Capital, the New York-based private equity firm, announced today the sale of its portfolio company, StratEx, to Toast, the fastest-growing restaurant management platform in the U.S.  StratEx, headquartered in Chicago, provides HR and payroll solutions for restaurants. 

"We are extremely pleased to have worked closely with StratEx's management team to build a leading SaaS platform in the restaurant industry," said Jonathan Barnes, Partner of Halyard Capital. "The company's ability to manage and automate the full employee lifecycle has made it the go-to application provider for employers in this dynamic marketplace," added Barnes.

Adam Ochstein, CEO of StratEx, said, "Halyard Capital has been an outstanding financial and strategic partner to our company.  We joined forces three years ago with a common vision of becoming the HR partner of choice to restaurant owners. This transaction is a validation of that achievement and we are excited to leverage the significant relationships and resources that Toast can offer our business."

Brendyn Grimaldi, Principal of Halyard Capital, added, "We have enjoyed an outstanding partnership with Adam Ochstein and his team at StratEx.  They are experts in delivering both software and services to meet the unique needs of employers in the restaurant industry. We are confident in their future success, as they continue to innovate in their marketplace."

StratEx and Halyard Capital received legal advice from Akin Gump.

The sale of StratEx represents another successful monetization from Halyard Capital Fund III, following the sale of Jun Group to Advantage Sales and Marketing in September 2018.

About Halyard Capital
Halyard is a middle-market private equity firm focused on growing companies in the technology and technology-enabled business and information services sectors.  The firm invests in founder-owned businesses as a first-time capital partner, as well as in corporate carve-outs, taking both control and significant, minority-stake positions.    

CONTACT: Jonathan Barnes, [email protected]

SOURCE Halyard Capital