Cleo d’Alpine Investors partners with HIG Capital
SAN FRANCISCO – (COMMERCIAL THREAD) –Alpine investors (“Alpine”), a private equity firm specializing in software and services companies, today announced that Cleo Communications (“Cleo”), a global provider of ecosystem integration solutions, is receiving an award. significant growth investment of a subsidiary of HIG Capital (“HIG”), a global private equity and alternative asset investment firm As part of this partnership, Alpine is terminating its investment in Cleo.
Cleo is a global SaaS provider of enterprise data integration solutions with B2B, application, cloud and big data integration capabilities through a single platform integration suite, Cleo Integration Cloud. Alpine partnered with Mahesh Rajasekharan in the investment in Cleo in 2012 and appointed him President and CEO. During her tenure, through her in-house talent management program, Alpine also helped complement the Cleo leadership team with outstanding leadership talent. With this team in place, Cleo has successfully grown the company from 30 to 300 employees and now serves over 4,000 global customers, primarily in the manufacturing, retail, logistics and transportation industries. and wholesale distribution.
Since 2012, Cleo has become the global leader in the ecosystem integration software category through investment and innovation. Meanwhile, Cleo completed two strategic add-ons, increased its total addressable market, and moved the entire product suite to a SaaS-based cloud offering that has become the market standard for ecosystem integration. The team has also grown their professional sales and marketing operations, increasing revenues more than five times over Alpine’s nine-year investment period. Cleo’s partnership with HIG will provide investments for its next phase of growth and accelerate Cleo’s leadership and growth strategy in the ecosystem integration category.
“Over the past nine years, Cleo has redefined B2B integration in the cloud and pioneered the ecosystem integration software category, creating an end-to-end product solution on a single platform. , which companies in all sectors are adopting quickly, ”said Rajasekharan. “HIG Capital’s in-depth domain knowledge and shared vision to help companies manage rapid growth through cloud integration technology make them the ideal partner for Cleo’s next phase of growth. ”
“Under Mahesh’s people-focused and customer-focused leadership, Cleo has grown into a global market leader,” said Billy Maguy, Partner at Alpine. “Cleo’s goal of creating a leading solution for B2B enterprise data has helped businesses gain the visibility and supply chain control they need to scale. We are excited to see Cleo continue to deliver value and solve the challenges of its customers in partnership with HIG.
UBS Securities LLC acted as financial advisor and Kirkland & Ellis LLP as legal advisor to Cleo and Alpine.
About Alpine Investors
Alpine Investors is a people-focused private equity firm committed to building sustainable businesses by working with, learning and developing great people. Alpine specializes in investing in mid-sized companies in the software and service industries. Its PeopleFirst strategy includes a CEO-in-Residence program that enables Alpine to provide proven leadership in situations where additional or new management is required post-transaction. Alpine is currently investing in its seventh billion dollar fund. For more information visit http://www.alpineinvestors.com.
Cleo is an ecosystem integration software company whose solutions simplify the movement and integration of critical B2B business data, enabling business agility and visibility into business flows. Cleo Integration Cloud (“CIC”) is a cloud-based platform that provides end-to-end integration visibility over API, EDI and non-EDI integrations and gives technical and business users the confidence and ability to ” rapidly integrate business partners, enable integration between applications and accelerate revenue-generating business processes. Headquartered in Rockford, Ill., Cleo serves more than 4,000 customers worldwide with a focus on the manufacturing, wholesale and distribution and logistics end markets.
About HIG Capital
HIG is a leading global private equity and alternative asset investment firm with $ 44 billion in equity under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the United States, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, HIG specializes in providing debt and equity capital to small and medium-sized businesses, using a flexible and operations-oriented / value-added approach:
HIG’s equity funds invest in management buyouts, recapitalizations and company exclusions of profitable and underperforming manufacturing and service companies.
HIG Debt Funds invest in senior, unitranche and junior debt financing to companies of all sizes, both on a primary basis (direct origination) as well as in secondary markets. HIG is also a primary manager of CLO, through its WhiteHorse family of vehicles, and operates a publicly traded BDC, WhiteHorse Finance.
HIG’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its inception in 1993, HIG has invested and managed more than 300 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales of over $ 30 billion. For more information, please visit the HIG website at www.higcapital.com.