Diversis Capital, a Los Angeles-based private equity firm that acquires controlling interests in small- to middle-market companies, has completed the sale of portfolio company BLUE Software (BLUE), a Chicago-based label and artwork management software company, to Esko, a provider of software and hardware for packaging design.
Terms of the transaction have not been disclosed.
Diversis acquired BLUE, which was a growing enterprise-class software business unit of a public company, in December 2014. Since its original investment, the business has made important investments in research and development, as well as sales, to accelerate the company’s growth. During Diversis’ ownership of BLUE, the company completed the acquisitions of Design2Launch from Kodak Corporation and independently owned Viki Solutions to accelerate its innovation strategy and growth path.
“We worked in close partnership with BLUE’s management team,” says Ron Nayot, co-founder and managing director of Diversis Capital. “This collaboration illustrates the hands-on, operational expertise we bring to our portfolio companies.”
Kevin Ma, co-founder and managing director of Diversis Capital, adds: “This outcome was a true team effort from BLUE’s management and the Diversis operators. We are pleased with this transaction, which is the first realisation from Diversis’ portfolio of companies. After just three and a half years, this transaction is a very strong result for our investors and validates our deeply integrated operational approach to investing.”
