NEWPORT BEACH, Calif., March 20, 2012 /PRNewswire-iReach/ -- Solis Capital Partners (Solis) today announced that it has acquired a significant stake in gen-E, a leading global provider of innovative IT process automation (ITPA) software and services and pioneer in the field of social ITPA.
gen-E's software and services enable its customers to automate critical and increasingly complex manual IT-related processes, leading to increased productivity, reduced errors and significant return on investment. The Company also is a pioneer in the field of social ITPA, which combines social media-based knowledge sharing tools with powerful automation capabilities to dramatically increase collaboration and productivity, while setting the stage for game-changing innovation across the enterprise. Current gen-E customers include Fortune-1000 companies with large, complex IT infrastructures. Founded in 1999, gen-E is headquartered in San Clemente, CA and has offices in Dallas, TX; Downers Grove, IL; Cork, Ireland; and Vancouver, Canada.
The investment in gen-E represents the first platform acquisition for Solis Fund II. Sols recently announced its first closing of Fund II with $42.5 million in commitments out of a total of $100 million targeted by the end of 2012.
"gen-E is an exciting debut investment for Solis II," said Craig Dupper, partner of Solis. "gen-E has established substantial competitive advantages in the marketplace, bringing significant value to customers. The gen-E leadership team is truly exceptional, and we look forward to supporting them in achieving their strategic vision."
The Solis investment will bring more than investment dollars to gen-E, says Casey Kindiger, gen-E CEO.
"Solis is the ideal partner to help us achieve our next phase of growth and organizational transformation," Kindiger said. "Solis brings valuable operational and strategic resources to bear, which will help gen-E capitalize on the many significant growth opportunities we see ahead."
Terms of the deal were not announced. gen-E was advised by Strategic Advisory Services International of Encinitas, CA. For additional information, go to www.sasillc.com.
Solis Capital Partners is a lower middle-market private equity firm located in Southern California. Focusing on leadership and business fundamentals, Solis prefers software, business service, manufacturing and value-added distribution companies in large, highly fragmented markets. Solis consistently has generated superior investment returns through multiple business cycles. The firm is actively investing through its second fund, Solis II. For additional information, see www.soliscapital.com
gen-E is an IT process automation (ITPA) software company that places human ingenuity at the forefront of workplace activity. The company's award-winning Resolve™ software breaks down traditional organizational and process constraints through an innovative approach to automation. Powered by actionable and dynamic knowledge management capabilities, Resolve allows organizations to realize cost savings of as much as 200 percent within months of deployment. For more information, please visit www.gen-e.com.
CONTACT: Linda Ames Solis Capital Partners, +1-949-300-2545, [email protected] or Joe Ames, Ames & Associates
+1-949-300-7433, [email protected]
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SOURCE Solis Capital Partners