News: Press Releases
Newbury, Piret & Co. completes $30 million financing for GlobalWare Solutions
Leading Boston investment bank brings in European private equity firm to secure financing for Massachusetts technology company
BOSTON, MA December 17, 2001 -- Newbury, Piret & Co. recently closed a $30 million equity financing for GlobalWare Solutions, a leading global provider of software contract manufacturing and e-market solutions, based in Haverhill, MA. The purchaser of the securities was Mezzanine Management Fund III, one of Europe's largest private equity funds. GlobalWare intends to use the proceeds of the transaction to finance working capital, as well as to make strategic acquisitions in a consolidating industry.
Newbury, Piret & Co., a leading Boston investment banking firm, assisted GlobalWare as its exclusive financial advisor in successfully executing their investment strategy through this equity financing and strategic advisory services, and was responsible for bringing on Mezzanine Management as an investor.
"After researching several investment banking firms, Newbury Piret became our obvious choice," said Jim Bartlett, CEO of GlobalWare. "They demonstrated a clear understanding of our business to identify the most appropriate equity firm."
"Now that we have worked with Newbury Piret and successfully completed our equity round, we are even more impressed," said Maria Muise, GlobalWare's CFO. "Hugh Taylor and the Newbury Piret team provided enormous guidance, talent and ability throughout this experience. We will rely on their proven ability to support the tremendous opportunities that lie ahead. Newbury Piret is a key component in our continued success."
Hugh Taylor, Managing Director of Newbury, Piret & Co., praised the vision of James Bartlett, GlobalWare Solutions CEO. "Jim and his team have grown GlobalWare Solutions to a lead position in high-value outsourced services for the software and electronics industry," said Taylor. "During the fund raising process, we were very gratified by the strong interest expressed by a number of leading private equity firms. Despite the difficult conditions currently in existence in the capital markets, this financing demonstrates that capital exists for well managed companies that are strongly positioned in industry sectors with attractive, long term growth prospects."
GlobalWare Solutions customers include some of the world's technological leaders, including Sun Microsystems, Nortel, Lucent, Avaya, U.S. Robotics, and many others. The company works with hardware and software OEMs to manage their value chain services, which include new product releases, content management, software manufacturing, fulfillment, distribution, and reverse logistics. GlobalWare also teams up with companies in the rapidly growing electronics manufacturing services 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.
###
About Newbury, Piret & Co. Inc.
Newbury, Piret & Co., Inc., is a leading Boston based investment banking firm - and emerging venture capital partnership - serving public and private growth companies in the technology and business services markets. Founded in 1981, Newbury, Piret provides Corporate Finance, M&A, Strategic Advisory and Valuation services focusing on expanding middle market companies in the life sciences, communications and information technology industry sectors. For more information, visit the company's website 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, Stamford, CT 06902.
About GlobalWare Solutions
Headquartered in Haverhill, Mass., 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.