Shore Points Sells Loftware to Riverside Partners
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Shore Points Sells Loftware to Riverside Partners

loftware nf1Shore Points Capital has completed the sale of its investment in Loftware through a recapitalization of the company led by Riverside Partners. Shore Points acquired Loftware in January 2005.

Loftware is a labeling services provider that works with over 5,000 customers, across 25 major industries to meet their customer-specific, geographical and regulatory labeling requirements. The company’s software integrates SAP®, Oracle® and other enterprise applications to produce barcode labels, documents, and RFID Smart tags across the supply chain.  Loftware is headquartered in Portsmouth, NH with additional offices in the UK, Germany, and Singapore (www.loftware.com).

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 for supply chain labeling applications.  Over the past few years, Loftware has logged accelerated global market penetration, record sales and profitability.

ed irwin nf3“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.”

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).

“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 in association with Bernstein Shur.

2014 PEPD • Private Equity’s Leading News Magazine • 7-31-14

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