ABRY Completes Sale of Triple Point Technology, Inc.
WESTPORT, Conn., – Oct. 28, 2011 – A company formed by Welsh, Carson, Anderson & Stowe and JMI Equity announced today that it has completed its acquisition of Triple Point Technology, Inc. from ABRY Partners and management. Management will continue to manage the business, and ABRY has invested capital alongside Welsh Carson and JMI in support of the acquisition.
Welsh Carson and JMI financed the transaction through equity and credit borrowings. Triple Point is the leading global provider of software to manage commodities and enterprise risk. The company provides innovative solutions to competitively address the complex commodities value chain: buying, selling, trading, and procurement; enterprise risk management; scheduling and logistics; storage; processing; and settlement and accounting. Triple Point’s Commodity Management platform enables over 260 customers in over 35 countries to profitably manage exposure to energy and raw materials across industries including energy; metals; agriculture; transportation; shipping; consumer products (CP); discrete manufacturers; and big box retailers. Triple Point employs over 600 staff in 12 offices and support centers around the globe.