ABRY Completes Sale of Triple Point Technology, Inc
WESTPORT, Conn., – Oct. 28, 2011 – A Company formed by Welsh, Carson, Anderson & Stowe and JMI Equity announced today that it has completed its acquisition of Triple Point Technology, Inc. from ABRY Partners and management. Management will continue to manage the business, and ABRY has invested capital alongside Welsh Carson and JMI in support of the acquisition.
Welsh Carson and JMI financed the transaction through equity and credit borrowings. Triple Point is the leading global provider of software to manage commodities and enterprise risk. The company provides innovative solutions to competitively address the complex commodities value chain: buying, selling, trading, and procurement; enterprise risk management; scheduling and logistics; storage; processing; and settlement and accounting. Triple Point’s Commodity Management platform enables over 260 customers in over 35 countries to profitably manage exposure to energy and raw materials across industries including energy; metals; agriculture; transportation; shipping; consumer products (CP); discrete manufacturers; and big box retailers. Triple Point employs over 600 staff in 12 offices and support centers around the globe.
About ABRY Partners
Founded in 1989, ABRY is one of the most experienced and successful media, communications, and business information services sector-focused private equity investment firms in North America. ABRY has completed over $27 billion of transactions, representing investments in more than 450 properties. The firm is currently managing over $3.5 billion of total capital and investing out of a $1.6 billion private equity fund, $750 million senior equity/mezzanine fund and a $1.2 billion senior debt fund. ABRY has extensive data center investing experience, having completed over $1.5 billion of transactions and investments in data center companies such as CyrusOne, Datapipe, Hosted Solutions, Q9 Networks and Sentrum. More information is available at www.abry.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe (WCAS) was formed in 1979 and has focused its investment activities in two growth industries, information/business services and healthcare. WCAS manages $20 billion in capital and has a current portfolio of over thirty companies. WCAS’s strategy is to buy growth