Datatel Executive Team Announces Management Buyout of Datatel, Inc., Backed by Thoma Cressey Equity Partners and Trident Capital.FAIRFAX, Va. -- Datatel, Inc. today announced that its Executive Team has signed a definitive agreement to acquire the company from its founders, Ken Kendrick Earl G. "Ken" Kendrick Jr. is a baseball executive with the National League Arizona Diamondbacks. He became part-owner with the team's inception in 1995 and Managing General Partner in 2004, replacing Jerry Colangelo after a lengthy disagreement over Colangelo's role with the and Tom Davidson. The management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. of the higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. technology and services provider is backed by Thoma Cressey Equity Partners and Trident Capital. The current Executive Team will remain in place, while Russ Griffith, Datatel's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , will also assume the role of Chairman of the Board. Datatel's 2004 consolidated revenue exceeded $95 million. "With Datatel's consistent financial performance, reputation, and loyal customer base, the company is well positioned for continued growth," said Mr. Griffith. "The resources and expertise of Thoma Cressey Equity Partners and Trident Capital will better enable Datatel to strengthen its position as a market leader. Datatel looks forward to continuing to serve our current and future clients, and offering them new products and services in the future." "This investment is consistent with our strategy of partnering with exceptional executives to buy strong franchises in high-growth industries," said Orlando Bravo BRAVO Cardiology A clinical trial–Blockade of the GP IIB/IIIA Receptor to Avoid Vascular Occlusion– which evaluated lotrafiban in preventing strokes and acute MI. See GP IIB/IIIA. , a partner with Thoma Cressey. "Datatel has a long and sustained history of success, and we're excited to be affiliated with this company because of its strong product offering, its loyal and satisfied customers, and its highly talented group of employees." Trident Capital also commented on Datatel's past success and future potential: "We believe Datatel is very well positioned for continued leadership in the industry, by providing expertise and innovative products and services," said John Moragne, a partner with Trident. Founded in 1968, Datatel is a leading provider of fully integrated enterprise information management solutions for higher education institutions. For the last 25 years, Datatel has exclusively focused on meeting the needs of colleges and universities, helping institutions operate more efficiently so they may better serve their constituents. Over 650 Datatel clients have achieved new levels of success using the company's industry-leading software, Datatel Colleague, and acclaimed ac·claim v. ac·claimed, ac·claim·ing, ac·claims v.tr. 1. To praise enthusiastically and often publicly; applaud. See Synonyms at praise. 2. professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. . About Thoma Cressey Equity Partners Thoma Cressey Equity Partners (TCEP TCEP tris(2-carboxyethyl)phosphine TCEP Topanga Coalition for Emergency Preparedness ) is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for almost 25 years. The firm originated the concept of "industry consolidation" or "buy & build" investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Cressey's investment focus is on profitable, middle-market companies in the software, healthcare, business services, and consumer products and services industries. The firm provides equity capital for buyouts, growth equity investments, and going private transactions. More information about TCEP can be found at www.thomacressey.com. About Trident Capital Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management. Since its founding in 1993, Trident has invested in more than 100 companies in the business services, information services See Information Systems. and software sectors across a variety of industries. Trident is an active investor across multiple stages, with experience in both traditional venture capital growth financing as well as in management buyouts and corporate spin-outs. The firm has offices in Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , CA and Westport, CT. More information can be found at www.tridentcapital.com. |
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