CAI Software Announces Majority Investment by Symphony Technology Group (STG)
Smithfield, Rhode Island – CAI Software, LLC (“CAI”), a leading software vendor of mission critical, production-oriented software to the manufacturing and distribution sectors globally, announced today it has received a majority investment from Symphony Technology Group (“STG”), a private equity partner to market-leading companies in software, data and analytics. 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 backing will accelerate CAI’s growth in partnership with its existing owners and management team through organic and inorganic initiatives to deepen and broaden CAI’s capabilities.
“CAI’s long-term customers and employees have helped build 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 go-to-market and product development efforts,” said Brian Rigney, CEO of CAI.
“From our early conversations, STG differentiated themselves 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, to understand their use of our products and their interactions with our employees,” Rigney added. “Due to the depth of these discussions and its transparent dialog, I am confident STG will be an exceptional partner for our employees, customers, and shareholders.”
“We are very impressed with CAI’s portfolio of mission critical solutions serving a highly loyal customer base in manufacturing and distribution sectors. CAI has been an excellent partner to its customers by delivering best-in-class and vertical-based functionality with high quality customer service,” said William Chisholm, Managing Partner of STG. “We are very excited to be partnering 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 M&A strategy.”
“We are pleased that STG will be taking a leadership role as a new growth-oriented partner for CAI. CAI has a proud legacy of delivering high quality software to its customers and we look forward to continuing to support CAI’s management team as they leverage STG’s resources to accelerate growth,” said John Bingaman, Managing Principal of Iron Creek Partners LLC and former Chairman of the Board of CAI.
CAI has more than 900 mid-market and enterprise customers globally, across several key verticals, including food & beverage, lumber & building materials, aerospace & defense, metal fabrication, automotive, manufacturing and distribution.
Evercore was the exclusive financial advisor and Weil, Gotshal & Manges LLP was legal advisor to CAI. Locke Lord acted as due diligence advisor to CAI. Paul Hastings LLP acted as legal advisor and PricewaterhouseCoopers LLP acted as accounting advisor to STG.
CAI Software, LLC is a recognized leader in the delivery of mission-critical, production-oriented enterprise resource planning (ERP), manufacturing execution systems (MES), warehouse management software (WMS), electronic data interchange (EDI), and Enterprise Process Automation (EPA) software and services to leading companies in select vertical markets, including building materials, food processing, precious metals, manufacturing, and distribution. We are headquartered in Rhode Island, USA. For more information, please visit www.caisoft.com
Symphony Technology Group (STG) is a private equity partner to market leading companies in data, software, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market leading portfolio companies, STG seeks to create sustainable foundations for growth that bring value to the companies with which it partners. The firm is dedicated to transforming and building outstanding technology companies in partnership with leading management teams. STG’s expansive portfolio has consisted of more than 35 global companies. For more information, please visit www.stgpartners.com
Wendy Stanley, Sr. Director of Marketing