“This commitment by Summit Partners will assist RuffaloCODY with plans to significantly expand our national and international presence and extend service offerings in both existing and new markets,” said Duane Jasper, RuffaloCODY President and CEO. “Summit’s experience working with high-growth organizations like RuffaloCODY will help accelerate our cutting-edge development and innovation.”
RuffaloCODY is a provider of technology-enabled fundraising and enrollment management services for higher education and high affinity-based nonprofit organizations. RuffaloCODY serves more than 900 nonprofit organizations and institutions of higher education. The company has approximately 500 employees and was founded in 1991. The company is headquartered in Cedar Rapids, IA (www.ruffalocody.com).
RuffaloCODY recently announced plans to move into a new 88,000-square-foot-facility to house all Cedar Rapids operations and provide space for the anticipated growth from 500 to 800 full-time staff over the next few years.
“We are investing in a strong management team, a compelling business model, and a market-leading company,” said Len Ferrington, a Principal with Summit Partners who will be joining the RuffaloCODY Board, along with Summit Managing Director C.J. Fitzgerald.
Summit Partners provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $15 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 365 companies across a range of industries. Summit Partners has offices in Boston, Palo Alto, London, and Mumbai (www.summitpartners.com).
Lazard Middle Market advised RuffaloCODY on this transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-31-13