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Transactions

August 2006
Westport, Connecticut
has sold a majority interest to
Boston, Massachusetts


Background

Triple Point Technology (“Triple Point” or the “Company”) provides software to help energy and physical commodities firms affect transactions, reduce risk and manage global supply chains. The Company was founded in 1993 by Peter Armstrong and Allie Rogers - two industry veterans who were soon joined by a third, Paul D’Amico. All three had previously worked at the Phibro Division of Salomon Inc.  Over the next few years, the company rapidly grew to serve commodity and energy companies in 17 countries across Asia, Africa, Europe, North America and South America.  These clients were engaged in buying and selling a wide variety of commodities - including energy-related commodities such as power, oil, gas and coal, as well as commodities such as metals, agricultural products, freight and “soft” commodities such as coffee, cocoa, sugar and grain.  The company - headquartered in Westport, Connecticut - added development and support centers in Houston, London, and Pune (India). 

Prior to engaging M&A, the Company was approached by several strategic firms looking for an acquisition partner, as well as by private equity and venture capital firms interested in TPT’s leadership position within this burgeoning sector.  Two of the three owners were young and not quite ready to exit this growing business, while the third was ready to move onto other challenges.  All three were open to the idea of taking some chips off the table.  Ultimately they decided to engage M&A as the Company’s exclusive strategic and financial advisor.



Overview

M&A helped the owners conduct a process that led to discussions with eight potential partners and indications of interest from four.  Six months after engaging M&A, The owners sold a majority interest to ABRY Partners, one of the oldest and largest private equity funds in North America.  ABRY has over $7.0 billion of assets under management and since 1989 has completed over $18.0 billion of leveraged transactions in the media, communications and information industries.

M&A Role

Marlin & Associates New York LLC (“M&A”) initiated this transaction, managed the process, assisted in the negotiations and acted as the exclusive strategic and financial advisor to Triple Point.

Press

ABRY Leads Recapitalization of Triple Point Technology Inc.

August 17, 2006

BOSTON (August 17, 2006) - ABRY Partners recently led the recapitalization of Triple Point Technology Inc. ("Triple Point", or the "Company"). ABRY invested $38 million in Convertible Preferred Stock in Triple Point for a majority ownership position in the Company. Existing management, led by Peter Armstrong and Paul D'Amico, own the remainder of the shares. Triple Point is the leader in trading and risk management information solutions for commodities including power, oil, gas, coal, metals, agricultural products, and freight. Triple Point's award winning information management solutions are used by more than 25 percent of both Global 500 commodity trading companies and Global 500 energy companies.

Triple Point is a rapidly growing company serving an expanding and increasingly volatile energy trading marketplace. Barriers to competition for the Company's customers are strong as evidenced by minimal historic customer attrition. Working with ABRY, Triple Point intends to pursue substantial organic growth opportunities as well as growth through complementary acquisitions.

ABRY Partners, based in Boston, is one of the oldest and largest private equity funds in North America investing exclusively in the media, communications and information industries. ABRY has over $7.0 billion of assets under management and since 1989 has completed over $18.0 billion of leveraged transactions in the media, communications and information industries.

Marlin & Associates New York LLC ("M&A") initiated this transaction, assisted in the negotiations and acted as the exclusive strategic and financial advisor to Triple Point. Founded in 2002, Marlin & Associates (M&A) is a boutique investment banking firm focused exclusively on providing a limited number of highly strategic and specialized, transaction-related services to US and international middle-market firms in technology, information, media and business-services. Marlin & Associates' professionals have advised on over 200 successfully completed transactions in the technology and information services sector. The firm is based in New York City and Washington DC.

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