New Mountain Capital has sold its portfolio company Inmar, an operator of retail and wholesale commerce networks, to ABRY Partners.
Inmar is an operator of commerce networks that are used by retailers, wholesalers and manufacturers to manage reverse logistics (product returns), facilitate promotions and recover revenue through secondary marketing of returned products. Inmar serves over 1,000 business clients, annually processing billions of returned goods, promotional transactions and pharmaceutical claims. The company was founded in 1980 and is based in Winston-Salem, NC (www.inmar.com).
New Mountain Capital made its original investment in Inmar in 2007. During the course of its ownership Inmar’s earnings doubled – the result of strategic investments in its platform, expansion of services in analytics and digital promotions, and the use of cloud computing.
New Mountain Capital currently manages private and public equity funds with over $12 billion in aggregate capital commitments. New Mountain’s third private equity fund, New Mountain Partners III, with over $5.1 billion of aggregate commitments, was raised in 2007 and the firm continues to deploy that capital. New Mountain was founded in 1999 and is headquartered in New York (www.newmountaincapital.com).
“New Mountain has been a great partner over the years and has helped Inmar execute on our business building and growth strategy. As we look forward, ABRY is the right partner for Inmar as our growth continues to accelerate,” said David Mounts, Inmar Chairman and CEO.
ABRY Partners invests in the media, communications and information sectors. ABRY is currently investing ABRY Partners VII (a $1.6 billion private equity fund), ABRY Senior Equity III (a $950 million senior equity/mezzanine fund) and ABRY Advanced Securities Fund II (a $1.2 billion senior debt fund). The firm was founded in 1989 and is headquartered in Boston (www.abry.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-30-14