RedPrairie, founded in 1975, is a leading global provider of productivity software solutions that enable manufacturers, distributors and retailers to increase revenue, reduce costs and compete more effectively. The company offers comprehensive supply-chain management, workforce management and in-store productivity solutions.
"The completion [image-nocss] of this acquisition marks an exciting new chapter in RedPrairie's history," said Mike Mayoras, CEO of RedPrairie. "We believe there are many exciting opportunities to further accelerate our business, provide more value to our customer base, and enter new markets. We look forward to working with New Mountain, our new board members, our employees and customers to capitalize on these opportunities."
Alok Singh, managing director of New Mountain, said, "RedPrairie has consistently added meaningful value to its customers through its market-leading productivity solutions, all aimed at enhancing the efficiency and effectiveness of the operations of its world class customers. We intend to work closely with RedPrairie's management team and help them accelerate their growth and strategic development with the goal of providing enduring value to customers and further build on their existing position of being a leading productivity solutions provider."
The RedPrairie senior management team will remain in place. Mike Mayoras and Martin Hiscox will continue as members of the Board of Directors. Steven Klinsky (New Mountain's CEO), Alok Singh and Peter Masucci will join the Board from New Mountain. Nanci Caldwell (former PeopleSoft CMO), Lawrence Jackson (former Wal-Mart Global Procurement CEO and president), Tom Manley (former Avaya CFO and former Cognos CFO) and Janet Perna (former IBM Information Management general manager) will also join the board as independent directors.
New Mountain Capital is a New York City-based private-equity firm investing for long-term capital appreciation through direct investment in growth equity transactions, leveraged acquisitions and management buyouts. The firm currently manages private and public equity funds with approximately $8.5 billion in aggregate capital commitments.
Milwaukee-based RedPrairie delivers productivity solutions to help companies around the world in three categoriesinventory, transportation and workforce. RedPrairie provides these solutions to manufacturers, distributors and retailers looking to reduce cost, increase sales and create competitive advantage.In other company news, RedPrairie is holding its 13th annual user conference, "RedShift:2010, Prepare for Lift Off," May 10-13 in Orlando, Fla. RedPrairie customers take a lead role in educational sessions at RedShift by providing real-world examples for optimizing supply chain and retail operations. This year's customer presenters include Pilot Travel Centers, Advance Auto Parts, Ocean Spray, DOT Foods and DSC Logistics, among others.
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