Shore Points Capital and Greyrock Capital Group have acquired Colyar Consulting Group, a provider of software and consulting services used by states to manage their participation in federal child nutrition programs. This investment represents the fifth investment in standalone software businesses sponsored by the principals of Shore Points Capital, and the second in partnership with Greyrock.
Colyar Consulting Group (CCG) is a developer of web-based software used for the administration of the nutrition programs and food distribution processes by state governments in support of United States Department of Agriculture Child Nutrition and related Food Distribution Programs. The National School Lunch Program is the largest programs supported by the company’s products. Colyar Consulting Group was founded in 1997 and is based in Phoenix (www.ccglink.com).
“Colyar Consulting Group is led by an outstanding and proven leadership team that impressed us with their years of domain expertise and the results they have generated. Shore Points and Greyrock look forward to working together, and with the CCG team, led by President and CEO Jeff Colyar, to enhance the value of the business for the benefit of customers, employees and shareholders,” said Ed Irwin, Managing Partner of Shore Points Capital.
Shore Points Capital makes equity investments in lower middle market businesses with enterprise values from $15 million to $75 million and EBITDAs of $2 million to $15 million. The firm has experience investing across a variety of industries, with a particular emphasis on business-to-business/enterprise software companies. Until 2006, the principals of Shore Points Capital operated as the North American private equity arm of BNP Paribas. The firm is based in New York (www.shorepointscapital.com).
Greyrock Capital Group provides mezzanine debt and equity to finance buyouts, recapitalizations and internal growth needs of middle-market companies. Greyrock has offices in San Francisco, Chicago and Wilton, CT (www.greyrockcapitalgroup.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-25-13