News: Press Releases
GlobeWare Solutions raises $30 Million of Equity Capital
Funds to support continued operational excellence and Global Expansion
Haverhill, Ma. - December 10, 2001 - GlobalWare Solutions, a leading global provider of Software Contract Manufacturing, Content Management and eMarket Solutions, today announced that it has raised an initial round of $30,000,000 in equity capital through a private placement of common and preferred stock with Mezzanine Management LLC one of Europe's largest private equity investment firms.
With more than 50 Fortune 100 customers GlobalWare is in an ideal position to capitalize on market opportunities that lie ahead. The Company plans to use the funds to strengthen its internal operations and to support its global expansion plans through strategic acquisitions. In today's economy, many companies are looking to outsource critical but non-core competencies to those providers who can offer industry leading supply chain management solutions through the application of digital marketplace technologies to create a total business solution - GlobalWare is that company.
In making the announcement, James R. Bartlett, CEO of GlobalWare stated, "This infusion of capital along with the substantial resources that Mezzanine Management brings to our company will fuel our continued investment in leading edge technology and global expansion. We are dedicated to improving our customers' top line/bottom line revenue, increasing shareholder value and providing our clients with significant competitive advantage. We thank our incredible customers, employees and suppliers for their loyalty, dedication and enormous support."
"The partners of Mezzanine Management are excited to be investing in GlobalWare Solutions, Jim Bartlett and his team", said Mezzanine Management Managing Director, Brad Jay. "We believe that this is an exciting time for the Company, its employees, customers and investors and we are pleased to have been selected to be part of this investment opportunity". "The team at Globalware has already built a "best-of-breed" reputation in the industry. Our capital will provide the financial support necessary for the next stage of expansion. With the supply chain management service sector maturing, we believe that proven suppliers will have significant growth opportunities. With over $1 billion of capital under management, we have the resources to help Globalware meet the capital challenges associated with its growth".
Newbury, Piret & Company, Inc., a leading private Boston investment-banking firm, assisted GlobalWare in successfully executing their investment strategy through equity financing and strategic advisory services and was responsible for bringing on Mezzanine Management LLC as an investor. "Jim Bartlett and his team have grown GlobalWare Solutions to a lead position in high-value outsourced services for the software and electronics industries," said Newbury, Piret Managing Director Hugh Taylor. "During the fund raising process, we were very pleased with the strong interest expressed by a number of leading private equity firms. With this new capital and a strong investment partner, the company is in a prime position to continue this growth intrinsically and through strategic acquisitions."
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About GlobalWare Solutions
Headquartered in Haverhill, MA, GlobalWare Solutions provides global software contract manufacturing, digital content management, and e-market solutions for the world's technological leaders. The Company works with hardware and software OEMs to manage their value chain services, which include, new product release, content management, software manufacturing, fulfillment, distribution, and reverse logistics. GlobalWare Solutions also teams up with companies in the rapidly growing electronics manufacturing services ("EMS") industry to provide a complete outsourced solution for hardware-software products. The Company's e-Market solutions include digital collaboration tools, web store development and vertically integrated manufacturing and fulfillment services.
GlobalWare's Digital Content Management services provide management of client information across enterprises. Content is securely submitted, validated, tagged, cataloged, wrapped, managed and stored within the GlobalContent system. This enables valuable information to be searchable and accessible from anywhere within the enterprise or via the Internet. The company's web address is http://www.GlobalWareSolutions.com.
About Newbury, Piret & Co. Inc.
Boston-based Newbury, Piret is a leading investment banking firm to middle-market public and private growth companies. For more information, contact Hugh Taylor at Newbury, Piret & Co., Inc., One Boston Place, 28th Floor, Boston, Massachusetts 02108 or visit the company's web address at http://www.newburypiret.com.
About Mezzanine Management LLC
Mezzanine Management LLC, founded as Europe's first mezzanine fund, provides a full range of junior capital solutions, including equity and subordinated debt financing, to growth-oriented middle-market companies. Mezzanine Management LLC is currently investing its third fund, a $525 million fund that closed in July 2000, targeting a broad range of manufacturing and business service industries serving the North American and European markets. For more information, contact Bradley Jay at Mezzanine Management LLC, 333 Ludlow Street, North Tower, and Stamford, Connecticut 06902.
Source: GlobalWare Solutions