Kyrus Solutions is now a provider of technology and IT managed services to retailers. The company offers retail point-of-sale, self-service and wireless mobility services, business consulting, implementation and maintenance support, and other managed services. Kyrus Solutions is based in Taylors, SC (www.kyrus.com).
Keith Bradley, a Clearlake Executive Operating Advisor, will become the company’s Chairman and CEO. Mr. Bradley was most recently the President of Ingram Micro North America, a wholesale technology distributor and a provider of IT supply-chain, mobile device lifecycle services and logistics. The existing management team, led by General Manager and SVP, Paul Civils, remains in place.
“We are excited to partner with Keith and Paul and the rest of the team as we back Kyrus as a platform to lead industry consolidation,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “With its core capabilities around providing leading technology and managed services solutions, coupled with Clearlake’s operational and financial capabilities, Kyrus is well suited to assist leading retailers as they continue to make investments in technology solutions.”
Clearlake invests in special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments. Sectors of interest include business services; communication; consumer products and retail; defense and public safety; energy and power; healthcare; industrials; media; and technology. Clearlake currently manages approximately $1.4 billion of equity capital. The firm was founded in 2006 and is headquartered in New York (www.clearlakecapital.com).
“Kyrus is a strong platform that is extremely well-positioned for future growth,” said Mr. Bradley. “I look forward to working with Paul and the rest of the management team to drive the company’s growth strategy of providing our customers with cutting edge solution innovation and industry leading service and support.”
Atlas Technology Group (www.atlastechgroup.com), an investment bank headquartered in San Francisco, advised Agilysys on the sale of RSG to Clearlake.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-2-13