Globe Equity Partners’ Buy of CLEO Gets Peterson Partners Investment

Peterson Partners has invested $3.5 million in Globe Equity Partners’ buy of CLEO Communications. The investment is part of a buyout deal with participation from a number of investors, the statement said. Loves Park, Ill.-based CLEO provides enterprise software. Mahesh Rajasekharan will become CEO and Sumit Garg will assume the role of president of CLEO.


Peterson Partners today announced that it invested $3.5 million in Globe Equity Partners’ acquisition of CLEO Communications, a company specializing in enterprise software for managed file transfer and email-to-fax needs. The investment is part of a buyout deal with participation from a number of investors.

“Peterson Partners invested in CLEO Communications because of its skilled management team and savvy approach to big data management,” said Brandon Cope, a partner at Peterson Partners. “CLEO’s products make secure and managed file transfer easy. We invested in the company because it is emerging as a leader in a growing market.”

Founded in 1976, CLEO is a leading provider of best-in-class enterprise software. Demand for CLEO VLTrader by Fortune 1000 companies worldwide has fueled record sales over the last year.

Mahesh Rajasekharan will assume the role of chief executive officer, and Sumit Garg will assume the role of president of CLEO. Former CEO and President Brian Hampton will remain with the firm in an advisory capacity. All other aspects of operations, including the senior management team and CLEO’s product and service lines, will remain intact.

“It is crucial for a company to be in a market that is expanding,” Cope added. “CLEO has demonstrated a product that is differentiated from its competitors, an element that is absolutely needed to attract investment dollars. Success also comes from backing strong leaders and creative thinkers. We’re confident that CLEO’s leadership will take the company to the next level.”

About Peterson Partners

Peterson Partners, based in Salt Lake City, Utah, is one of the Intermountain West’s most successful private equity firms. Specializing in small to mid-sized companies, Peterson Partners has a track record of successful investments including JetBlue, Making Memories, EnergySolutions, 3form, Cranium, Asurion, Instashred, Winder Farms and Diamond Rental. Founded in 1995, Peterson Partners has managed over $350 million in committed capital through six funds. For more information, visit

About Globe Equity Partners

Globe Equity Partners is an investment firm focused on software and software-enabled services sectors. The firm has a long-term approach to investing and creates value through active management. Globe Equity Partners provide companies with the following advantages: access to capital, experienced software operators and long-term value creation. Find out more at

About CLEO and CLEO Streem

CLEO and CLEO Streem provide proven, secure, advanced software solutions to companies that have enterprise-wide managed file transfer or email-to-fax needs. CLEO’s powerful, easy-to-use software helps clients secure, manage and consolidate data while meeting the most comprehensive requirements of multiprotocol communications. CLEO VLTrader, the company’s flagship managed file transfer solution, helps businesses across numerous vertical industries save money, optimize IT resources, consolidate communications, streamline workflows, control ad hoc communications and meet both SLAs and regulatory compliance mandates. CLEO Streem provides turnkey, enterprise email-to-fax and broadcast messaging solutions that can be seamlessly integrated with your existing workflows into backend applications, wherever those originate, whether from existing multifunction devices, document management solutions or desktop applications. With over 30 years of EDI experience and as the leader in AS2 communications, CLEO solutions are customer- and partner-ready for leading enterprises. Find out more at