Shore Points Capital Announces Sale of Portfolio Company Loftware
Successful Exit of Leading Enterprise Software Business After Over Nine Years of Ownership
New York, NY (PRWEB) July 28, 2014
Shore Points Capital announced today that it has completed the exit of its investment in Loftware, Inc., through a recapitalization of the Company led by Riverside Partners of Boston. Shore Points was the lead investor in Loftware for over nine years, a period in which the Company has become the leading international provider of enterprise level software solutions for supply chain labeling applications.
“Loftware has been a great investment for us, and we are proud of everything the Company has accomplished under our watch,” said Ed Irwin, Managing Partner of Shore Points. “The management team, led by Bob O’Connor, has flawlessly executed its strategy and has positioned the Company for continued growth and success. We are pleased that a group as accomplished as Riverside has recognized the value of Loftware and will be leading the Company as it looks to even greater success in the future.”
“Loftware has been very fortunate to be majority-owned by Shore Points Capital for nearly ten years,” said Bob O’Connor, Loftware’s President and CEO. “Their leadership and steady guidance have been instrumental in the growth and transformation of Loftware into the market leader in the enterprise labeling space. The management team and other investors could not have asked for a more supportive financial sponsor.”
Shore Points and the other Loftware investors, including Greyrock Capital Group and Eric Anderson, were represented in the sale by the investment bank Signal Hill and the law firm of Golenbock Eiseman Assor Bell & Peskoe LLP in association with Bernstein Shur.
About Shore Points
Shore Points Capital (http://www.shorepointscapital.com) is a New York based private equity firm that invests in growing lower middle market businesses, with a specialty in enterprise software and business services. Shore Points was founded in 2006 by the former members of the private equity group of a large multinational financial institution.
For the original version on PRWeb visit: http://www.prweb.com/releases/2014/07/prweb12049686.htm