Fri, 04/04/2014 - 06:31
Lower middle market private equity firm Spire Capital has acquired Accuship.com, Iron Data Solution's transportation spend management division (Iron Data TSM).
Iron Data TSM provides software-enabled transportation spend management solutions allowing global enterprises to optimise their transportation spend.
The company's network of more than 8,000 connections with trading partners and the resulting unique access to timely transportation spend data supports the company's advanced analytics for end-to-end transportation spend visibility and management.
Spire acquired all of the interests of the company from Iron Data Solutions. This marks Spire's third investment in its third fund, Spire Capital Partners III.
Spire has partnered with the existing management team of Iron Data TSM, led by the company's president, Jerry Rau.
"I am excited to partner with Spire Capital and lead Iron Data TSM into its next chapter of growth and evolution. With Spire Capital as our partner, we plan to further build out our suite of products to provide enhanced services to our existing customer base as well as new customers," says Rau.
"We are excited to partner with Jerry and the other members of his management team," says Sean White, partner of Spire Capital. "The company has developed a strong base of Fortune 500 clients and our strategy will be to invest significant resources into new product development as well as sales and marketing efforts."
Iron Data Solutions was advised by investment bank Stifel and Sheppard Mullin Richter & Hampton served as counsel to the company. Denton's served as legal counsel to Spire Capital and senior debt capital was provided for this transaction by Webster Bank, NA.
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