RedPrairie Holding, a productivity solutions provider, has entered into a definitive agreement to be acquired by a fund affiliated with New Mountain Capital, a private equity firm.
RedPrairie says the acquisition will enable it to accelerate its growth rate while enhancing its commitment to customer success.
"Our objective is to be the leading provider of productivity solutions for manufacturers, distributors and retailers," says Mike Mayoras (pictured), RedPrairie chief executive. "Our relationship with New Mountain Capital will allow us to reach our strategic goals quickly, efficiently and with certainty. We believe there are significant opportunities to provide more value to our customer base by expanding our product portfolio and entering new markets."
Alok Singh, managing director of New Mountain Capital, adds: "We are delighted at the prospect of being able to add RedPrairie to our family of companies. They have consistently, over their long history, been committed to the success of their customers. We aim to work closely with RedPrairie’s management team and help them accelerate their growth and strategic development, making them an even more valued partner to their customer base."
RedPrairie delivers productivity solutions to help companies around the world in three categories: workforce, inventory and transportation. RedPrairie provides these solutions to manufacturers, distributors and retailers looking to support business strategies that increase revenue, reduce costs and create competitive advantage.