Garrison Investment Group has completed a restructuring of Speed Commerce Operating Company LLC that includes a roughly $150 million investment. Speed Commerce said Hari Pillai was named CEO, Jyoti Kapoor was appointed COO and Jochen Vogt to CFO. Richardson, Texas-based Speed Commerce provides eCommerce services and technology solutions for retailers and manufacturers.
DALLAS, TX–(Marketwired – Jun 15, 2016) – Speed Commerce Operating Company LLC, a leading provider of eCommerce technology and omni-channel solutions for retailers and manufacturers, announced today that it successfully completed a restructuring process that resulted in a reinvigorated company with new ownership and fresh investment in the business.
Leveraging substantially all of the assets of Speed Commerce Inc., which were moved to Speed Commerce Operating Company LLC via the now completed restructuring process, the new Speed Commerce emerges poised for growth with a significantly stronger balance sheet, world class customers, and a renewed commitment to leadership in the industry. The new company will operate as a private company under the Speed Commerce name.
The company’s new owners, led by Garrison Investment Group, will have invested approximately $150 million in Speed Commerce through restructuring their prior investments and injecting new growth capital. Additional capital to support future growth has also been earmarked to help capitalize on the exciting opportunities in the fast growing eCommerce marketplace.
Concurrent with the completion of the restructuring actions, Speed Commerce also announced three new C-level additions to complement the existing management team. The new additions are:
- CEO, Hari Pillai, a charismatic leader who combines strategic vision with exceptionally strong operational skills that allow him to translate strategy into tangible business results by focusing on the details and driving strong execution;
- COO, Jyoti Kapoor, who has extensive supply chain and operations management experience within technology companies spanning multiple international and U.S. assignments;
- CFO, Jochen Vogt, who brings financial and operations experience from multiple leading-edge technology companies and a proven track record of scaling organizations in growth environments.
“The investment and support from Garrison allows Speed Commerce to attack the opportunities provided by the rapidly-growing eCommerce market with a strong balance sheet, a leaner cost structure, a seasoned management team and an unwavering commitment to customer service and operational excellence,” said Pillai. “Speed Commerce has a very strong base of world class customers and, coupled with the company’s skilled and experienced workforce and the leverage provided by our sophisticated IT systems, we are in an excellent position to capitalize on the massive opportunity at hand.”
ABOUT SPEED COMMERCE
Speed Commerce is a single-source provider of eCommerce services and technology solutions for retailers and manufacturers. Designed around the customer’s needs, Speed Commerce’s solutions help brands streamline operations, leverage technology, and find greater efficiencies. Services include: order and inventory management; pick, pack, and ship; freight management; returns processing; 24/7 customer care; ecommerce platform development; and hosting and managed eCommerce. For additional information, please visit the company’s website at www.speedcommerce.com.
ABOUT GARRISON INVESTMENT GROUP
Garrison Investment Group, founded in March 2007, is a diversified credit, equity and asset based middle market investor focused primarily in the areas of corporate finance, real estate finance and structured finance. With $4.6b of assets under management, Garrison’s roster of active long-term private equity investments include logistics, fulfillment and manufacturing businesses. For more information, go tohttp://www.garrisoninv.com.